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Resale property prices in Budapest increased in 2018 Q1 and Q2

2018-11-13

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budapest, homes, apartments, flats, housing prices, KSH, price increase, resale properties, residential, statistics

According to the most recent data of Central Statistical Office (KSH), the pace of price increases of residential properties in Budapest, Hungary was exhilarated again in 2018. As reported by KSH, in the first half of the year, 59 000 homes were sold in the country, it means a 7% rise compared to last year.

Resale property prices in Budapest increased in 2018 Q1 and Q2

In the first half of the year, the price increase of resale properties was 8.2%, compared with a 5.9% increase over the 2017 period. Official statistics show a 7.6% increase in new apartment prices, as opposed to a 6% increase in the last year.

Based on the report, the first half of this year, resale homes in Budapest were on average 26.6 million HUF, which means 2.2 million HUF more than in 2017.

These up-to-date data are consistent with the rise in Budapest housing prices in recent years. It is difficult to predict the future of the real estate prices, but as we have already discussed, prices can be expected to increase even more as a result of the end of the 5% new residential property VAT period.

Source: MTI