The cheapest, the smallest, the biggest – Highs and lows of Hungarian real estate in 2020
Although 2020 was a roller coaster ride, there were some interesting records in the housing market. Last year, the cheapest house was sold for HUF 300 thousand (~EUR 832), and the most expensive flat was sold at Lake Balaton for HUF 74 million (~EUR 205,425). Some people sold their property in less than a day, and the number of advertised apartments for rent rose to a record high of 115,000.
Needless to say, 2020 was an unusual year, with the coronavirus epidemic completely transforming everyday life, different areas of the economy, including the real estate market.
Rental records
24.hu presents the survey of ingatlan.com, according to which a total of more than 540,000 ads were posted last year. Regarding apartments for sale, 430 thousand new advertisements appeared, thus the rental market reached a peak. Due to the lack of foreign tourists, owners were mostly looking for tenants for short-term rent. As a result, more than 115,000 new offers appeared on the portal last year, which is a record.
Sales in express mode
Generally speaking, it took longer than before to sell an apartment or house, yet the fastest sales took place within a day. In Budapest’s XXIII. district an owner announced a 200-square-meter family house for HUF 38.9 million (~EUR 107,986) last May, and sold the property in less than a day. Outside the capital, a family house in Hajdúböszörmény was sold the fastest. The owner asked HUF 37 million (~EUR 102,712) for the 110 square meter, 3-room house.
It was such a great price that potential buyers were coming every 30 minutes to check it out the next day.
The most expensive flat
The most expensive property in the country is a palace on Andrássy Avenue, a 2,000-square-meter luxurious apartment on a plot of more than 1,000 square meters. The real estate agent representing the owner announced it for nearly HUF 6 billion (~EUR 16,6m) last year. The apartment hasn’t been sold yet.
Suprisingly, the most expensive flat was not sold in the capital, but on the shore of Lake Balaton.
A 79-square-meter apartment found on the third floor of a renovated waterfront panel building was advertised and sold for HUF 74 million (~EUR 205,425). The extremely high price in the market is explained by the fact that the apartment has a 40 square meter terrace and direct entrance to the beach.
The cheapest offers
Among the cheapest real estates, the record belongs to a ruined adobe house located in Négyes in Borsod County. The owner launched a 60-square-meter, one-and-a-half-room property at a distance of 8 kilometers from the Tisza at a price of HUF 300,000 (~EUR 832).
The cheapest apartment of 2020 cost HUF 600 thousand (~EUR 1,666). It is located in Salgótarján and is still for sale. The 48-square-meter, completely empty property even lacks radiators.
Read alsoThe biggest Hungarian real estate trends of 2020
Source: www.24.hu
What is “past due date ” the paramount of absolute need in Hungary, is to ask the factual question – what is the Governments PLAN – that is going to entice, present to first home buyers – FOCUSED – at the younger generation of Hungarians – who wish and financially understand – the entering into the property market – the investment they make, the long term multitude of Positives to there lives, future Family life, that property, titled in there names will provide for them.
What is the PLAN ?
The plan if there is a defined outlined PLAN – needs to be ADJUSTABLE – to the times we currently live, and that is flexible and adaptable, not locked in to a singular thought process or fundamentals or inflexible application for borrowing of financial “lines” of mortgage borrowing, that does not permit or locks out the younger first home HUNGARIAN buyers from acquiring the purchase of property, the investment of there Futures and there Families.
Statistically – we factually know,- has been the market position FACTUALLY in property since early 2019 – the sellers in the property market in Hungary, Budapest – sizable outweigh the buyers, which besides the on-set of this deadly novel coronavirus, what the effect on Hungary economically its ongoing impact has been, is another reason why property in Budapest, Hungary – the % fall still it has to lower prices 8% to 15%.
Government must entice – by imaginative Policies and Plans – get the younger Hungarian people into property ownership – that are titled to them in there names.
The past 20 months in Budapest, Hungary, the top (3) three investors into the purchase of property inclusive of rental property have been :
(1) – Chinese.
(2) – Vietnamese.
(3) – Germans.
Do not dismiss nor disregard this FACT and this is WRONG – as the effect of this Foreign Dominance of property purchase in Budapest, Hungary is having, crippling and a devastating effect in fact, on the ability of the younger generation of Hungarians, who wish – see the true worth long term, the benefits of investment into property.
Foreign Investment – permitted encourage by Government, into Budapest, Hungary – is pushing away younger Hungarians, squeezing them out, not allowing nor permitting them into the property market – a level playing and investment field.
Little silly girl,
Look around in the xiith district.
You must get some sleep the day after.
“ Suprisingly, the most expensive flat was not sold in the capital, but on the shore of lake Balaton”. Total nonsense. There are lots of flats in Budapest that sold for more than HUF 74 million last year. There are least 6 just around the corner from me!
The information on to regular basics, reporting on the Property Market in Budapest, Hungary, the quality and fact of the market, is fraught with error and information that is blatantly WRONG.
Please exercise greater diligence care and deeper research , prior to printing articles relating to Property Markets in Budapest, Hungary.