Property market turnover highly increased in February 2014: 12 percent more properties were sold than in the same period of last year. Apartments in panel blocks and in brick houses were the cheapest in Eastern Hungary (under HUF 9 million) and the most expensive in the Buda side of the capital (over HUF 20 million).Property market turnover increased by 12 percent in February 2014 compared to the same period of last year. According to the data of Duna House real estate agency the properties were the cheapest in Eastern Hungary: the apartments in panel blocks were sold for HUF 118 thousand and those in brick houses were sold for HUF 155 thousand per square meter. At the other side of the country the apartments in panel blocks were sold for HUF 124 thousand and those in brick houses for HUF 170 thousand per square meter. In the capital, on the Pest side apartments in panel blocks were sold for HUF 170 thousand and those in brick houses for HUF 237 thousand per square meter; and on the Buda side apartments in panel blocks were sold for HUF 193 thousand and those in brick houses for HUF 322 thousand per square meter. The average prize of the apartments were the highest in Buda (over HUF 20 million), and the lowest in Eastern Hungary (under HUF 9 million).
None of the Budapest Districts Became Less Popular
None of the Budapest districts became less popular; thus anywhere in the capital your property is located, now you have a higher chance to sell it. The list is led by the 13th district, but the 14th, the 11th district and the city centre is also popular. The majority of the buyers in Budapest were looking for their first own apartment, and one quarter of the buyers were investors. The rate of the investors was also high in the country, and also the rate of those who replaced their home for a bigger one. The investors who bought a Budapest property spent HUF 18 million on average. The rate of those who replaced their home for a bigger one was high (46 percent) in Budapest, too. In Budapest 30 percent of the buyers were entrepreneurs and 28 percent were employees; and in the country most of them were employees, the second most were pensioners and the third most were entrepreneurs. Half of the property buyers bought a 40-60-square-meter apartment for HUF 5-10 million.
Sources:
www.penzcentrum.hu
