Rise of real estate prices expected

Economy Local News

In the first half of this year, the prices of brick houses were stagnating both in Budapest and in the countryside, and though the prices of panel houses has decreased, in the long run, rise of prices is expectable according to Otthon Centrum (“Home Center”) franchise network.

The price of second-hand brick houses (per square meters) is 280.000 HUF in Budapest and 175.000 HUF in the countryside, while one m2 in a panel house costs 170.000 HUF in Budapest and 130.000 HUF in the countryside. The prices of brick houses rose from 2004 till the economical crash in 2008. The introduction of the auctionary quota will increase the supply, which, in turn, can cause the decrease of prices, but the appearance of customers who have been biding their time can raise them. The new, balanced prices will be formed by these factors.

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