Real estate market to gain further boost
March 3rd, 2016
According to prognosis the changed rules of the government support family benefit can generate further boost in the market of used apartments, however, rise in prices would go on.
The government tempered the rules of the support family benefit. They abolished the 30 million HUF price limit of the new apartments that can be purchased as well as terms of the subsidy of used apartments also have become more favourable. Consequently, regional differences of threshold disappear and subsidy after children becomes standardized.
Growing interest in used apartments
There has been growing interest in used apartments since the beginning of this year, which accounts for the alleviation.
According to Laszlo Balogh, the expert of ingatlan.com since the announcement of the extended government support family benefit there has been a 39 percent increase in the number of their website visitors. Eighty seven percent of the visitors with sincere interest look for used apartments. The most substantial change is that the cease of the limit of the price of square metres of used apartments and the limit of the price of the used apartments that can be purchased with the support family benefit will be 35 million HUF countrywide. This current relief will be beneficial for customers from Budapest because the former conditions were not any real limits for those who live in other regions.
Growing prices countrywide
Higher prices in the capital also necessarily result in growing prices on average througout the whole coutry. In county towns the average price of the square meter of the apartments has grown by 0.5 percent in only a month. It has grown in Szolnok in the highest degree. After Budapest the second most expensive town is Győr.
Used apartments are getting more expensive
Due to the relief of government support family benefit there could be a growing turnover in the market of used properties due to the big number of families who would like to buy new houses with the government support family benefit but prior to this, they also plan to sell their apartments. There has to be wait for the latest because the new apartments can appear in large quantities in the real estate market only next year at the earliest.