The property investment in Budapest and its outskirts can be granted 400 billion HUF worth in the near future according to forecasts by the Budapest Chamber of Commerce and Industry (BCCI) and the Association of Construction Entrepreneurs.
More and more home properties
10 thousand new homes are set to be built in the capital of Hungary and on the outskirts of it in the near future.
The distribution of home developments in Budapest as expected:
- 70 % multi-household buildings
- 30 % private properties
No change in property size and price
There are 911 thousand home properties in the capital. The sqm price of homes in Budapest and its suburbs is between 160 and 750 thousand HUF. Experts of the organizations do not expect considerable growth in 2016. The average size of the homes is 114 sqm and the national average is 101 sqm. Based on assessed needs property development and investment companies see no further changes.
Homes awaiting renovation
The organizations also note that the situation of the skilled workers is critical when compared to the national level. There is a serious shortage of all the construction staff. Construction entrepreneurs therefore need to pay their employees more to be able to realize the ordered projects in good quality and by the given deadline. Every fourth home requires renovation in Budapest.
(Source: http://realista.hu/ingatlanpiac/budapesten-10-ezer-uj-lakas-epulhet/130601)
