Budapest Housing Prices are Still Growing
December 13th, 2017
The real-estate market is still developing in Budapest – shows the most recent analysis of CSO. According to the new data, more and more homes are exchanging owner, but at higher prices. There is no difference between the used flats and the new dwellings.General Growth
So far in 2017, the number of sold apartments rose with 5% in comparison with the same period in 2016. The prices went through an increase of between 2% and 5% over a year, depending on whether the apartments were new or used.
The price of new homes increased by 8.2% in the first half of the year. This represents a nearly 20% increase compared to the previous two years. The price of second-hand homes grew by 3.1% in the first half compared to last year, compared to 2.1% in the second half of the year.Budapest
Budapest remains high above the countryside average. On average, it is worth 22.6 million forints for a used home, which are 1.4 million forints more than in 2016.
The price of second-hand homes went around 361 thousand forints per square meter last year, whereas this year it increased to 402 thousand forints.
However, comparison between the years is difficult because the exact data refers to the same dwelling, which is less likely, since the chances that the same homes would have been replaced by the same housing would be the same. Furthermore, it is not the case, for each apartment, the location, the size and the quality (as we can see from another article, how much the location is important, a well-known street, etc.)