According to the latest analysis of OTP Mortgage Bank more apartments were sold in 2014 than in the previous years. The 11th district was the most popular – which is partly thanks to the new Subway Line 4 –, but apartments in the 9th, the 8th and the 13th district were also in demand. One-third of the apartments were sold in the latter 3 districts. The 3rd, the 7th and the 14th district were also popular.
The Number of Available New Apartments Decreased to 1100 in Budapest
50 percent more apartments were sold in 2014 than in 2013. New developments have not been able to keep up with the pace of the growing market, but according to the expectations 25 percent more apartments will be built in 2014 than in 2013. The number of available new apartments decreased from 3800 to 1100 in Budapest, and 600 properties are currently under construction. In 2014 72 new properties were built: most of them were small houses of 12 apartments; only 2 of them contain more than 100 apartments.
Most Available New Apartments Are in the 13th District
Most available new apartments are in 13th district, which is followed by the 2nd, the 14th, the 11th and the 3rd district; while in the 1st, the 17th, the 18th and the 23rd district there are less than 5 new apartments for sale. More and more people decide to buy an apartment as an investment, hoping its value will increase and subletting it they can realize a large profit.