Back May 12th, 2014

More apartments were sold in April 2014 than in the same period of last year; but in March the number of transactions was even higher. This year already 28500 apartments have got a new owner; this number is 11 percent higher than it was in the same period of 2013. At some areas of the country property prices even increased a bit.

A high number of transactions were realized at the property market in March 2014. In April a little less apartments found their new owners, but the number is still higher than that of last April’s. According to the latest data of Duna House real estate agency 7619 properties were sold in April 2014; this number is 4 percent higher than it was in the same month of 2013. According to the estimation of the agency 28500 transactions were realized in the first 4 months of 2014; 11 percent more than in last year’s same period, and 14 percent more than in the same period of 2011.

Increasing Demand Makes Owners Hopeful

Although property prices haven’t increased remarkably, the increasing demand can make those owners hopeful who are planning to sell their apartments. At some areas in Hungary property prices have already increased: mostly at those regions – in the capital and some other big cities – that are rich in job opportunities. Although the big breakthrough has not happened yet, these changes are promising.

First Quarter’s Numbers Are Promising

According to the data of Hungarian Central Statistical Office (KSH) published at the end of April property market started with especially low prices in 2014 (in the last quarter of 2013 the price of the new apartments decreased by 4.8 percent and the price of the used ones decreased by 8 percent compared to the 3rd quarter), but the numbers of the 1st quarter were more promising: the prices didn’t decrease further. Some areas seem to be less in demand than the average, and their prices can even drop; but at other areas prices has increased, and further increase is expected.

Sources:
resourceinfo.hu