More Expensive Apartments Are in Demand
June 2nd, 2015
According to the latest data of Hungarian Central Statistical Office (KSH) more than 30 percent more apartments were sold in 2014 than in 2013. Used apartments were more in demand: newly built apartments constituted only 2.8 percent of total sales. Prices also increased, by 3.9 percent – but the price of apartments that were actually sold increased by 5.1 percent, since more expensive apartments are getting more and more popular.
25-35 Percent More Apartments Were Sold Last Year
In the first quarter of 2014 35 percent more and in the second quarter 25 percent more apartments were sold than in last year’s same periods – 24 thousand and 29 thousand. Real estate prices increased by 2.3 percent in the first, by 1.9 percent in the second and third and by 1.8 percent in the fourth quarter. In the past few years, home owners “fought” for buyers, but the trend seems to turn in the opposite direction. In certain districts and counties buyers can’t get any discount off the price anymore; in fact, they have to overbid each other to get their dream home, thus the apartments can be sold for more than the original price.
In Budapest Almost as Many Apartments Were Sold as Before the Crisis
Most apartments (52 percent) were sold in Budapest and in county seats. In the capital almost as many apartments (89 percent) were sold in 2014 as in 2008, before the crisis. But the supply side of the market of new apartments is far behind the demand: except from a few districts and cities no new houses are to be built, thus no expansion is expected in the market.
Source:http://www.portfolio.hu/ingatlan/lakas/a_draga_lakasok_a_menok.1.214002.html
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