Szatyor

Main Menu

  • Home
  • Hungary economy
  • Budapest real estate
  • Budapest mortgages
  • Hungary banks
  • Investment

Szatyor

Header Banner

Szatyor

  • Home
  • Hungary economy
  • Budapest real estate
  • Budapest mortgages
  • Hungary banks
  • Investment
Budapest real estate
Home›Budapest real estate›Strong real estate market activity in May

Strong real estate market activity in May

By Arthur Holmes
June 16, 2021
0
0



Photo by Fabio Balbi / Shutterstock.com

Estimates by real estate broker Duna House show the strongest real estate market activity in May in years, with sales up 5% from 2019 and almost 70% up from year-low last caused by the first wave of COVID.

Experts at the company expect the real estate market to close the second quarter with a total of 38,000 to 40,000 transactions.

The real estate brokerage estimate of 14,198 sales in May and the demand index of 89 points indicate an active real estate market. This is supported by the mortgage market, which is said to have reached another record high of over HUF 100 billion, with new loan products linked to housing creation subsidies also playing a role in the growth.

The Budapest metropolitan area remains one of the most active segments of the housing market. Looking at the location’s monthly data, more than a quarter (26%) of sales are over HUF 50 million and almost half (47%) are in the over HUF 35 million category. . Price per square meter statistics also show an increase in prices, with 19% of transactions now above HUF 600,000 per square meter, up from 14% in the previous month. Nationally, Pest County has the highest demand for properties in need of renovation or in poorer condition but still habitable. These were the preferred choice of 36% of buyers, likely due to the availability of affordable properties in this area that can be modernized with a home improvement program.

Investing, buying a first home, and moving to a larger home remain the top three motivations for buying a home. However, the preference proportions have changed – not only compared to the same period last year, but also compared to April of this year. While investors in Budapest represented 41% of the market a month ago, their share is now declining and first-time buyers are in the majority (33%). In contrast, in May, the number of goods purchased for investment increased sharply in rural areas (from 10 percentage points to 33%), overtaking the motives for purchasing a larger asset. .

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing worthy journalism is an expensive endeavor. For 27 years, the editors, editors and journalists of the Budapest Business Journal have strived to bring you business news that works – information that is reliable, factual, accurate and presented without fear or favor.

News organizations around the world have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. More recently, some have experimented with the idea of ​​involving their most important stakeholders, their readers.

We want to offer this same opportunity to our readers. We would like to invite you to help us provide the quality business journalism you need. Hit our Support BBJ button and you can choose how much and how often you send us your contributions.



Related posts:

  1. Chinese Fudan University to open campus in Budapest, raising security concerns
  2. Home Sales in Canada, Average Price Drop in April, Real Estate News, ET RealEstate
  3. Budapest rejects plans to build Chinese university – EURACTIV.com
  4. New home prices in China rose at the fastest pace in eight months in April, Real Estate News, ET RealEstate

Categories

  • Budapest mortgages
  • Budapest real estate
  • Hungary banks
  • Hungary economy
  • Investment

Recent Posts

  • Oil retreats as China’s stimulus package fails to ease worries
  • Ukrainian President asks Davos Global Elite to help isolate Russia
  • EU standoff worsens over Russian oil embargo as Hungary sinks
  • The ruble gains against the dollar and the euro show that Western sanctions are counterproductive
  • Alarming debt levels in advanced economies
  • Privacy Policy
  • Terms and Conditions