Property Market News from Budapest
Read our latest articles about recent regulations, market trends and real estate prices in Hungary.
1,500 new apartments will be created in 8 different parts of Budapest by Cordia in Hungary’s biggest housing development in over 2 decades. Cordia, one of the market leading residential developers with grand projects including the Corvin Promenade considering the recent estate market trends in the capital – that we briefly highlighted in the previous post - is set to get its biggest housing development in Budapest. The real-estate developer plans to build 1,500...
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The turnover of the real estate market of Hungary was exceptionally high in February in Hungary – the first month showed similar values than last year, the second month however showed a 10% increase compared to last year. The cause of the increased turnover is not only the greater demand, supply also grew as many started to sell their estates and the new family housing allowance also entered the market. In total the first two months show a 5% increase compared to the same...
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To keep up with the growing economics, increasing purchasing power and high demand of urban living, vacant lots are being developed and prices of new apartment buildings keep rising in popular districts. The new Family Housing Government Benefit (CSOK) and the reduced VAT of the newly built homes all favour the new-build market in Hungary. Investments started before as well as new ones come-on stream TriHolding Group responded to the growing demand of new built...
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Criteria about paying back the allowances and loans in the CSOK program did not change, however the 30 million Forints upper value limit of buying or building new apartments was abolished. The Hungarian government is not changing the conditions of applying for the CSOK as in applicants are still going to need social security coverage and be employed to get into the program. Other criteria however were broadened so the CSOK could reach more families. The price of 30 million Forints of for those who...
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Investors may lose ground on the real estate market of the Hungarian capital with the expansion of the government support family benefit (CSOK), but in the last month of 2015 the number of speculative transactions grew spectacularly in the city. Looking at the transaction numbers seasonality seemingly had no effect in 2015. Instead of continuously stronger quarters we saw a strong but roughly unchanging turnover in every quarter. Experts estimate the total number of transactions at 135 thousand...
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The Hungarian real estate market is characterized by a bipolar consolidation. In popular areas more and more homes are built along with the rising of prices, however economically underdeveloped areas could see a prolonged catch-up. The FHB House Price Index has increased to 182.2 points from 179.36 at the beginning of the year, which means nominal prices increased 2.7, real prices 1.7 percent compared to 2014. The price increase is continuous on the Hungarian market for over a year and it seems...
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