Looking at the last few
years’ apartment prices we can say it’s never been easier to buy an apartment,
since they’re cheaper than ever. Last year one-third as many apartments were
sold as ten years ago. No increase is expected for 2013: ca. 10 thousand
apartments will be built countrywide from which 1500 in the capital.Since 2003 the apartment prices have never been this low; so for those who have a permanent job and salary getting an apartment is easier than ever. According to FHB Lakásárindex’s (Apartment Price Index) data prices decreased with 7.4 percent last year. Price increase was experienced in 2000 for the last time, and that was no less than 31 percent. But since then the sector has shown a decreasing or fluctuant tendency. And since 2007 price decrease has been persistent. The greatest decrease was experienced in 2009: this year the apartment prices fell 11.2 percent.
Last year an estimated amount of 94 thousand of transactions were made, which is only one-third of that of ten years ago. Ca. 13 thousand new apartments were built in the country, of which 3 thousand in the capital. In the first quarter of 2013 a 22-percent decrease was experienced compared to last year’s same period: despite the previous 3100 now only 2400 new apartments were sold. According to FHB Lakásárindex’s estimation ca. 10 thousand new apartments are to be built countrywide, from which 1500 in Budapest. Based on the forecasts this year the prices will stagnate.
If you are looking for a property investment or a home in Budapest, do not hesitate to contact Tower Investments where our experienced local experts will do their best to find a property which suits your needs. With over 10 years of experience and close to 650 properties under management Tower is at your service. For further information and for available properties contact us today on +36 20 496 8545 or info@tower-investments.com.
