The most expensive Hungarian properties are bought by Chinese buyers
According to Heti Világgazdaság, out of the foreign buyers, the Chinese are the ones who buy the most expensive realties in Hungary, but those coming from Vietnam are also interested in expensive properties.
As Duna House’s statistics reveal, 90 per cent of Asian buyers resettles in Budapest, where they either buy a family house or a property in downtown Budapest. In the latter case, they aim to create a long-term investment.
László Hegedűs, the head of Duna House’s Hidegkút section told Heti Világgazdaság that most of their Asian buyers are interested in the suburban areas of the second district and of the sixteenth, as big family houses are in abundance there. The buyers are usually in their early forties, arriving in Hungary with their spouses and children.
These buyers usually rely on their instincts and are quick to decide on the deal after they have seen the property.
They are also more keen on and better at bargaining than Hungarian buyers are.
Data provided by the Hungarian Central Statistics Office shows that among foreign and Hungarian buyers, Chinese people are the ones who spend the most on their new homes. In 2017, they have spent 41.4 million forints (EUR 130 thousand) on average on real estate. The second biggest spenders are French: on average they spend 33.1 million forints (EUR 96 thousand) on new properties. Hungarian buyers spend around the same amount of money as the French ones do on properties in Budapest.
However, Chinese buyers are still not the biggest ones in number, as German people buy more properties, though the latter rather target the rural areas and the countryside, whereas Chinese buyers prefer the capital city.
Real estate mediators are especially fond of Chinese buyers not just because they buy the priciest properties, but also because they tend to rely completely on mediators.
They ask for help while deciding on which flat or house to buy, and also when it comes to administration or to getting to know the neighbourhood.
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