October brought a number of transactions on the Hungarian real estate market unchanged when compared to last year. One fifth of buyers are heading towards the 13th district of Budapest.
In the tenth month of the year 11 842 contracts were closed, while in 2014 the same month saw 11 692 contracts according to estimates published by the Duna House network. In this year however the number of real estate sold increased by an overall 34 percent compared to the period between January and October last year.
The average price for a m2 of a panel flat in Eastern Hungary was between 147 and 161 thousand forints, while in the same category in the capital buyers had to pay 280 to 288 thousand forints per m2 (for flats in Pest and Buda respectively).
Brick-built apartments cost 171 thousand Forints a square meter in Eastern Hungary and 192 thousand in Western Hungary, while in Pest buyers had to pay 286 thousand, in Buda 433 thousand Forints. Every fifth potential buyer said that they aimed to buy an apartment in the 13th district of Budapest, while the 14th, 6th and 7th districts were also popular. On the other side of the Danube the most popular district of Buda was the 11th.
40% of buyers in the capital said that they were buying apartments as an investment and they paid an average 24 million Forints. Every fifth buyer was purchasing their first own apartment, looking for 56 square meters in size on average for 18.5 million Forints.
35% of buyers were entrepreneurs who spent 30.5 million Forints on average.
In the countryside more than a quarter of the buyers moved into bigger estates and spent an average of 17.6 million Forints on their 110 square meter or bigger apartments. The second largest group was the investors' who represented 23%, thank came those who bought an apartment for the first time, representing 22%.
Newly built estates represented the largest portion, 7% in Pest County according to Duna House, while in the country side 6% of all estates sold were newly built.
(Source: http://www.vg.hu/vallalatok/ingatlan/ennyiert-kelnek-el-a-lakasok-461396)
