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

Residential property market report

napi.hu, 12.05.2017 – According to a recent residential property market report published by MNB, the National Bank of Hungary, prices in Hungary grew by 15.4 per cent on average last year. This increase can continue at a more subdued rate in 2017. Budapest witnessed the highest increase with 22.5 per cent, which is, however, still lower than the 25-30 per cent seen in previous years. Domestic residential property market is still shaped by rising prices and a growing turnover, and the supply side responded to increased demand with a significant boost of construction activity. The report, which was published for the third time this year, says the increase in demand was supported by favourable household income and labour market trends and low interest rates. MNB experts say neither the increasing volume of residential loans nor the growing average apartment prices are a sign of overheating.

Residential Property Price Outlook

napi.hu, 05.10.2016. – The pre-owned residential property price increase expectations in Budapest are almost the same as in the previous quarter. 28 percent of respondents of a survey expect that prices will go higher and 19 percent said they would go down. The expected overall average price increase for Budapest is still approximately 1 per cent. A material increase of about two per cent is expected in Buda and in the upmarket parts of the downtown areas of Pest. As far as the Eastern and Western parts of the country are concerned, the survey forecasts a price increase of 2 and 3 per cent, respectively, while strong regional differences will prevail. This means the national index is back at where it was six months ago while that for Budapest is somewhat lower than that. Based on the responses building plot prices will increase by 3-6 per cent in the next 12 months.