Propert for sale in Hungary
The Hungarian market continues to grow strongly, attracting foreign capital both in industry and in services, with positive repercussions on the entire real estate sector.
An expansion that will continue in the near future despite the shortcomings of construction companies. It should be emphasized that the serious lack of building constructors that is imposing slowed down real estate growth rates. Some international investors are looking at the potential for doing business in the country, but the demand is still very high.
The most significant change in the Hungarian real estate market is the 13.7% increase in the number of transactions, which means that around 13,000 trades were concluded in a month alone. The total number of transactions for properties for sale in Hungary in the first two months of 2018 is the highest since the financial crisis 10 years ago.
And if in Buda there is an increase of about 8% of sales of residential properties, the properties on the "Pest" side have increased only by 4%, but in the category between 100-120 square meters, which shows a average increase in the surface of the required housing.
However, most of the properties sold were between 40 and 60 square meters, so the smaller houses seem to be the most requested. On both sides of Budapest, real estate properties for sale in Hungary above 1,930 euro / m2 dominate the market, increasing demand by 14 % in Buda and 10 % in Pest. 40 % of the properties in Buda have been sold for more than 129,000 euros. If we look at the prices of properties for sale outside of Budapest, the properties between 40 and 60 square meters are the most commercialized, accounting for more than a third of sales.
The west of the country is even cheaper with an average price of 38,000 euros. The price of properties for sale in Hungary has also increased in Budapest: average growth is 322 euros on the Buda side and around 160 euros on the Pest side.
The highest average price of non-new properties was estimated in the most central districts of Budapest at € 2,213 per square meter. Buda's prices are quite similar to this average, while Pest seems to be much cheaper.
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