After five years of massive growth in the residential property market, it reaches a psychological limit of 1 million forints per square meter of more and more downtown apartments.
In Budapest there are currently 20 000 apartments being built or planned to be built.
With the new academic year starting in September, this month is certainly the season to see and expect the apartment rental market boom in Budapest.
The national average in 2016 on the value increase of residential properties in Hungary was 15,4%, according to a report by the Hungarian National Bank.
While Budapest, the capital of Hungary, may not be the first city that tourists heading to Europe put on their itineraries, it's becoming a new magnet for global real estate investors. Budapest is not as saturated with buyers and sellers as cities that are more on the beaten track. That's only part of its appeal, however. The "Pearl of the Danube" is a world class location with assets that outshine more high profile markets. The advantages to buying property there may never be as ideal.
Housing prices in Hungary have rose by a stunning 21% in 2014 and 2015, much faster than the neighborhing countries, but according a report published by the Hungarian National Bank, this is not excessive growth.
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