How difficult will it be to spend the government support family benefit? February 9th, 2016

The government support family benefit (CSOK) in Hungary provides 10+10 million Forints to families with three children with minimal risk, supply and demand however don't meet everywhere. Where there are no investors many would have to resort to building their own homes. The allowance is naturally tied to a number of conditions. Those who want the 10+10 million must spend it on hoes with all modern conveniences, apartments must be at least 60 m2 in size and houses at least 90 m2, and they must possess...

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Properties in Budapest are easily sold January 19th, 2016

In the past six weeks only one in seven properties were sold on the market, but Budapest is performing way better than the Hungarian average: for every 3 unsold property there is one that was successfully sold. It would be easy to think that the upswing of the real estate market is a nation-wide trend, but it is not the case. Currently on third of the transactions is for investment purposes according to Otthontérkép, and most popular are the smaller, recently renovated properties located...

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Decreasing the VAT could bring an even greater boom on the real estate market in Budapest January 6th, 2016

The Hungarian government recently presented a new pack of laws, which contains the long-awaited decreasing of VAT in the case of home constructions. According to their plans VAT will be reduced from 27 to 5 percent between 2016 and 2019.   Currently there are 8-9 thousand new home introduced to the Hungarian housing market every year – according to governments estimates the reduction of VAT could add 3-5 thousand to this number. The government wants the new, decreased VAT to be able to...

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Hungarian Real Estate Market Could Set a Record in 2015 December 16th, 2015

The real estate market of Hungary produced the same numbers in November than it did a year earlier, around 10-11 thousand estates were sold in the period both years. According to the Duna House Transacition Number Estimate roughly the same number of estates were sold in November than in 2014 – the same was true for the previous month, October too. The turnover is almost identical, however the prices of estates have risen significantly in the past year, and private buyers are slowly adjusting...

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Is Budapest About To Experience A Decrease On The Property Market? November 23rd, 2015

Housing market index grew in Budapest while the national indicator remained unchanged according to GKI Economic Research Co. Real estate market index nationally decreased by a mere 1 percent to 112 point, while the capital's index is currently at 114 points. 100 point represents average state of the market between 2006 and 2014, therefore any values below that mean a worse condition, while if the index is above that it means that the market is in a better shape than it was in the last 8 years. Housing...

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Migration could drive the increase of real estate prices in Europe November 9th, 2015

The population is growing rapidly in numerous regions of the European Union, mainly because many seek work in areas that are now accessible to them thanks to the European Union. But the construction industry is falling behind, failing to provide enough new homes, while real estate prices are increasing. A market is likely to feel the consequences of the most recent wave of migration: hundreds of thousands of migrants and refugees arrived to the EU and many more are on their way. According to experts...

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