Experts expect a boom in apartment construction

napi.hu, 03.04.2017 – According to experts the number of apartments constructed this year may rise significantly, but a change in VAT legislation and the lack of skilled workers may have an unwelcome effect on the construction industry. A recent survey showed that the number of condominium apartments completed this year will reach 2010 highs, but even last year’s 10 thousand was a four-year record. Experts base their estimate on the number of planning applications mainly in the periphery of Budapest, in larger Hungarian towns and in the vicinity of Lake Balaton, mainly as a result of the 5 per cent VAT. This VAT rate will probably be in force until 2019 only, so – due to the time requirement of planning permission procedures – developers have only one year left to start new projects.

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