Used housings beating new ones in real estate market

The last quarter of 2017 brought a 12.3 percent increase in prices of real estates, which is the highest in the last 5 years. According to Forbes.hu, the increase in the prices of used housings is becoming slower. However, the construction companies face a critical challenge in building new houses: they simply lack labour force.

The data of Central Statistical Office show that real estate became more expensive during last year, but there was a difference between used and new housings. The increase in prices was not so fast in 2017 concerning used houses, as it changed only 7.4 percent during the last quarter. It was the lowest rise in the last four years. New housings are quite different because their prices increased by 12.3 percent, which is also a record but on the other edge.

There are no satisfying news regarding the construction processes: the lack of labor force causes delays in the case of the smallest (a couple of flats) and the largest (residence blocks with hundreds of flats) projects.