Hungarian real estate market – Forecast for 2020!
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Thanks to the continuous development of the real estate market in the last few years, Hungary has gained a significant role in the international property market.
“2020 is expected to be the year of buyers in the property market”
– reported László Balogh, senior economic analyst of ingatlan.com – to MTI.
According to the expert, 2019 began with a significant number of property sales compared to the previous year’s results; however, this increasing tendency started to cease soon.
Since mid-summer – primarily due to the Hungarian Super Bond providing a good return – customers purchasing for their own purposes gradually took over the place of the formerly dominant investors in the real estate market.
He added that this change does not necessarily bring lower prices, but buyers might be in a better position.
According to László Balogh – in big cities, condominiums are the most popular properties. In 2019, the most demanded properties were the block apartments, whose price was dynamically increasing in the last few years; however, no further price increase is forecasted for 2020. He added that last year, the popularity of newly built homes was also significant – reported by the Hungarian news portal 24.hu.