Apartment renovation is a lucrative business

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Napi.hu: Ingatlan.com compared the physical repair and the asking price of almost 300 thousand properties advertised at the end of September. The national average of the price per sq. m. for apartments in a “good”, “average” and “poor” physical repair was HUF 348,000; 281,000 and 258,000, respectively.

Prices are of course stipulated subjectively by the sellers but the results are a good indication of the trends. The data show that apart from the general boom on the property market another good idea is to buy an apartment in a less pristine physical repair and renovate it. One must, of course, consider the costs involved: a fresh coat of paint new flooring cost significantly less than the removal of walls and the renewal of the entire pipeline and electricity system.

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