Budapest residential property market may slow down

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Napi.hu, 30 July 2018 – In the first half of 2018 there were 6517 apartments built in Hungary, 30 per cent more than in the same period of the previous year. The number of residential units under planning was 18,066, 8.9 per cent less than in the first half of 2017. The number of planning approvals issued in Budapest decreased by 27 per cent. 50-50 per cent of residential properties are still built by private persons and companies, respectively.

54 per cent of apartments created in a new building are located in houses, 36 per cent in condominiums and 6.2 per cent in gated residential communities.

The average floor space of apartments is 101 square metres, an increase of 5 square metres from the previous year. The number of apartments planned reduced by 27 and 3.5 per cent in Budapest and in county centres, respectively, and increased (by 17 per cent) in other towns and cities only.

Demand for housing was weak for most of 2023, but by the end of the year interest had increased, and from the beginning of 2024 the Csok Plus programme boosted the market

hvg.hu 16.04 In the first quarter of this year, home buyers took advantage of the new subsidy option in almost exactly one sixth of the loans, 16.7 percent. Of course, it was not only the Csok Plus programme that helped, but also the fact that interest rates have started to fall and inflation has also […]

Second highest house price increase in the EU since 2010 in Hungary

hvg.hu, 04 04 – In the last quarter of 2023, the average price of housing in the EU was 48 percent more expensive than in 2010 – Eurostat said. House prices in Hungary rose by 185 percent between 2010 and 2023. This is the second highest increase in the EU, with only Estonia 217 percent […]

Heirs left in the lurch at the probate hearing

napi.hu, 20.01 – Cryptocurrencies, social media profiles or documents stored in the cloud are increasingly common in probate proceedings. However, few people know that in lack of proper regulation and provisions, access to crypto currencies can be questionable for heirs, or that tech giants only allow access to deceased people’s data to those entitled to […]

Property and mortgage market data

napi.hu, 18.01 – More than a third of Budapest clients signed contracts for over HUF 20 million last year. Between September and December, for example, their share was 42%, which reflects an increase of 10 percentage points in 2021. The number of applications in this value range has increased steadily from quarter to quarter, to […]

Real estate prices have increased on the back of CSOK

napi.hu, 5 October – A study shows that the family home allowance (CSOK) has not improved the birth rate, but its amount has been incorporated into the price of homes. Three quarters of the subsidy was bunt up by the price rise, and the number of people having three children has not increased even in […]