Skyrocketing real estate prices at Lake Balaton

Real estate prices around ‘The Hungarian Sea’ are continuously increasing. Presumably, 8-10% growth will be achieved by the end of this summer. Even though the highest demand is for condominiums, experts expect the most dominant price increase in the case of vacation houses.

As magyarhirlap.hu described, coastal properties are offered at unaffordable prices; however, a bit further from the lake apartments and holiday homes are available at lower rates.

According to Gábor Krausz, real estate agent of Balla Ingatlan, there is an unstoppable increase in the property prices around Lake Balaton; therefore, one can make a good business by purchasing as soon as possible.

He added that besides the skyrocketing prices of the holiday areas, there are some categories and places where an increase is expected in the future.

Condominiums have the greatest demand whose prices show an average growth of 20% compared to the previous year. However, this is not the top, additional 8-10% increase is expected by the end of this summer that will reach 20-25% within the next 2 years. Furthermore, an even higher rise is expected in the case of holiday homes which are recently available for 400-500 thousand HUF / m².

The most crucial point that buyers take into consideration is the vicinity of Lake Balaton. However, if someone finds the guide price of a property unaffordable, it is worthwhile to look around a bit further from the lake, on the other side of the main road. This zone is the last one where price increase can be experienced. Nonetheless, the coast can be approached by car or bicycle in this case.

To mentioning some actual numbers, separate properties can be found for 30-40 million HUF. If someone would like to buy a parcel, it can be obtained for 8-10 million HUF, while construction of a building costs approximately 21-22 million HUF. That is to say, both of the cases require the same amount of financial investment.

Source: www.magyarhirlap.hu