Warning signs on the apartment market
napi.hu, 23 July 2018 – Demand is still soaring on the market of new apartments but price hikes stole some of the impetus. According to the CEO of a major property agency there are still approximately 7-10 thousand apartments sold in Budapest annually but the average time needed to sell a property has increased as a result of the higher prices.
According to market experience HUF 30 million is a dividing line: more expensive properties take longer to sell.
The low VAT resulted in neither overdevelopment nor oversupply and apartments in the process of building sell within a year maximum.
Some analysts expect a small supply increase after 2020 and also a stronger demand for pre-owned apartments.