Lawyer's addressLövőház utca 20/A.
1024 Budapest Hungary
Attorney's phone number Tel.: +36 1 316 9233
Law office's fax number Fax.: +36 1 336 0107
Attorney's office e-mail info@drlittner.hu

Fun facts on Hungarian residential properties

napi.hu, 06.06.2017 – According to a recent survey almost one third of occupied apartments in Hungary were built from brick and mortar, the percentage of apartments in concrete high-rises is 14 per cent while those built from adobe have a share of 13 per cent. In Budapest every fourth apartment is in a concrete high-rise. On a national level, one third of occupied apartments have three rooms while 31 and 29 per cent have two and four or more rooms, respectively. Average floor space has increased by 6 per cent since 2011 and is currently 84 sq. m. In Budapest the percentage of apartments with 40 or less sq. m. is 15 per cent, three times the national average.

In 2016 there were 2.49 people living each apartment. Occupant density is the lowest in Budapest with 2.15 people per apartment and the highest in small settlements (2.75 people per apartment). Last year more than 12 per cent of the 4.4 million apartments registered were vacant, and the tendency is rising. The number of unoccupied apartments grew as a result of the diminishing population, the aging population of small settlements, migration from villages and also the growing tendency of using apartments in towns as offices.

Points considered by Hungarian residential property buyers

napi.hu, 29.05.2017 – According to a recent survey Hungarians acquire their first own residential property at the average age of 27 and two-thirds of them never move out of it anymore. Two-thirds of those who do move out stay within the same municipality. More than two-thirds of respondents were searching for their new property for three month maximum and one third (30 per cent) needed less than one month to find it. Only 17 per cent spent more than six months trying to find their dream home. The majority of buyers (63 per cent) visit four or more properties but one fifth (19 per cent) bought the first one they had visited. The main aspect to consider when choosing is, not surprisingly, price (66 per cent go by the price and 40 per cent by the funds available), but location (52 per cent) and physical repair (43 per cent) are also important. Only 5 per cent of buyers base their choice on whether the property is new or pre-owned.