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

This is not the time to buy a holiday home

napi.hu, 28.10.2017 – While there is no point in postponing apartment purchases because prices are climbing higher and higher, it makes sense to wait with buying a holiday home. According to a report published by a large online property agency this is because similarly to previous years prices are likely to start falling after the autumn rally. Let us take 2016 as an example: in the first and second quarters holiday homes sold at an average price of HUF 14 million compared to the average price of HUF 19 million at the end of summer 2015. The most expensive regions for buying a holiday home are almost exclusively in the proximity of Lake Balaton. The most expensive one is Siófok, where a holiday home will cost HUF 29 million, while a similar property in the region of Keszthely can be had for HUF 10 million less.

Apartment buyers deterred by prices

napi.hu, 06.04.2017 – According to the transaction volume estimate of a large Hungarian property agency 11 560 apartments changed owners in March in Hungary. March was a strong month on the property market, far stronger than the second half of 2016, even considering the 7 per cent backlog compared to the same month of last year. The recoiling was caused by the earlier surge in property prices which forced the market to take a deep breath while potential buyers waited to see where prices were going next.

March transaction volumes and indeed the increased demand in February indicate a return of buyers to the market, which means the wait for lower prices is over. This is also supported by the increasing proportion of buyers purchasing for themselves as opposed to investors. In total, there were 29.6 thousand property sales transactions completed in the first quarter of 2017 in Hungary. In 2015 and 2016 the same figure was slightly over 30 thousand, while in 2013 it was a mere 18 thousand.