2017: 14,000 – 16,000 New Homes Foreseen in the Hungarian Property Market

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This year is predicted to be dominated by home buildings, with a total of 14,000-16,000 homes expected to be constructed in 2017, according to a property analysis sent to the Budapest Business Journal.


According to the analysis this year is expected to be the epicenter of new home buildings in the Budapest and its agglomeration, while regional centers and towns with county rights such as Debrecen and Győr might also experience some boost.

By the end of the year, experts expect the number of new built homes to reach 14,000-16,000. Citing a survey it conducted, the agency says Budapest is currently seeing 338 ongoing projects, in the framework of which almost 21,000 homes have been posted online. These should all be built in the coming few years, they anticipate.

Tendency for building new homes has been rising, and is supposed to remain firm. In 2016, the number of new home properties reached 10,000-12,000, and almost 25,000 building permits had been issued by the end of the year.


Here are the most investments

New homes in larger numbers will be constructed by bigger construction investors in some of the districts of the capital (districts 2, 3, 4, 7, 8, 9, 11, 13 and 14) as well as in regional towns, while individual developers are building in the agglomeration area of Budapest and nearby the bigger regional towns.

The most investments will continue to be in districts 13 and 11 in the capital. The sites of the constructions cover almost the whole area of the districts, however, in district 13 most of the projects have started in a line between Béke Street and the area called Rákosrendező and in district 11 the area of Madárhegy and Sashegy is the most attractive for the developers. In Pest side Zugló (district 14) shares the first position with district 2 of Buda, but in the latter case the lion share if projects are wearing thin and only 35 % of the new buildings are available for purchase. Tiny spaces and loft are being converted into apartments in the downtown of Pest.


Sources:
bbj.hu
piacesprofit.hu


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