According to the "Global Residential Cities Index - Q3 2018." report by Knight Frank, Budapest shows the highest 12-month residential property price growth in Europe.
According to the report released by the Hungarian National Bank (MNB), the Hungarian housing market continued to intensify in the first half of 2018, which in addition to the dynamic rise in the apartment prices, was reflected in the increase in the sales volume.
Budapest is not only the favorite choice of tourists in the region but the Hungarian capital is also the top pick among real estate investors. According to the latest data, in the Central-European region, Budapest provides the best value for money if you are thinking about buying an apartment in the city center.
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.
According to the summer announcement, the government does not intend to extend the validity period of the 5% VAT on new residential properties which is in effect until December 31, 2019.
At the end of 2015, the Hungarian government decided to allocate money towards a new subsidy purchase program for young families with children. The minister has set a budget of HUF 40 billion but has said that this could be increase if the demand is high enough. It is important to note that over 80% of the Hungarian population are in favor of this government action. The minister has said that the government is willing to help several hundred thousand families.
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