Property Market News from Budapest, HungaryStay up-to-date on the property prices and real estate market trends in Budapest.

Leasing real estate can make a good source of income June 20th, 2016

The broker scandals at the beginning of 2015 and the lowered deposit rates have directed even more investors towards the housing market than before – accounting for almost 50% of the transactions on the market several times. Due to the considerably higher rental costs and the affordable housing prices, those who decide to set foot on the market in time could acquire a return rate as high as 20%. Along with the rise of rentals, real estate pricings have also become notably higher, but because...

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The housing market is still flourishing -part2 June 15th, 2016

In the first quarter of the current year, based on Otthon Centrum’s sales experiences, prices have also been on the rise in rural areas as well. In the case of pre-owned homes (family homes, townhouses and panel flats), each became 5-15% more expensive in most cities, but in certain places such as Debrecen, the market saw a rise in average prices per m2 surpassing 20%. In the case of recently constructed townhouse flats, the amount of average price rise surpassed 15% in certain cities...

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The housing market is still flourishing -part1 June 15th, 2016

According to Otthon Centrum’s predictions, in 2015, around 130-135 000 housing sales were finalised in Hungary – they expect even more for 2016, around 155 000. Based on advance data, the unit price of pre-owned flats has risen by 11.6%, while that of newly constructed flats with 6.7% compared to 2014; the first quarter of 2016 saw even more increase. Last year, 7612 flats were built, Otthon Centrum expects far more to be completed this year – based on the growing number...

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What does the youth’s ideal home look like? A new era on the real estate market: will there be a boom? June 8th, 2016

⅔ of people under 30 years of age would like to move to a different home in 3 years, preferably to a flat with three rooms. Every third person asked would be willing to take out a loan to achieve their goals – as shown by the results of the survey carried out by OTP Bank and online magazine Szeretlek Magyarország (I Love You Hungary). Besides pricing, the most important factors in choosing a property is the location and easy accessibility.   More than 800 visitors of the popular...

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Letting out and selling homes have become more difficult in Hungary– You shouldn’t discard the notion of hiring an agent just yet! May 31st, 2016

Sellers advertised their properties in more than realistic prices than in Q1 resulting in a growing number of supply in the property market. The situation makes it more difficult for the owners to sell their properties than a few months ago. The reason why you need a real estate agent now This process also means that more people need real estate agents to sell their property as it, which can translate to waiting less to sell your home and possibly get as much money as your house is worth. Be...

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Up to 150 000 properties could be sold in Hungary this year May 30th, 2016

Otthon Centrum (Home Centre) estimates the total number of sales on the Hungarian real estate market up to 135 000 in 2015, while the company predicts a sum of 150 – 155 000 for the current year, as the newly installed family support benefit program (CSOK) not only will have a major effect on newly constructed housing, but due to the recent modifications, it will also make a mark on the market of pre-owned properties. This also makes developers unable to keep up with the increased...

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