In 2018, the number of foreign people who searched for an available flat in Hungary increased by 23% compared to 2017. Last year, this increase was only 6%, but many people from different countries are still interested in Hungarian flats.
Forbes reported that the real estate market of Budapest is mostly interesting for British people, but Brexit might change their attitude and needs for flats in foreign countries. The government of the United Kingdom continues to negotiate with the European Union until December 31 about the issue of leaving the EU.
Most people interested in Hungarian flats were registered from Germany (52,640), the UK (31,639), and Austria (31,334). Not only British people, but Hungarian people living in the UK were also interested in coming home to Hungary.
Other top countries include Switzerland, the USA, Romania, Slovakia, Italy, the Netherlands, Spain, France, and Sweden. Countries with the least registered interest are China, Turkey, Russia, Australia, Norway, Finland, Denmark, and Croatia.
OTP Ingatlanpont says that in the downtown districts of Budapest, more than a quarter of real estates are bought by foreigners, mostly Chinese, and the trend is that many of them are no longer buying flats in the Hungarian capital for business purposes only.
Based on the data of the Hungarian Central Statistical Office, the share of foreigners in the Hungarian real estate market is 2.3 pc, which is not much at first glance. However, in the case of Budapest, this rate increases to 12 pc while in some downtown districts of the Hungarian capital, this number reaches 25-30 pc.
Featured image: Daily News Hungary