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Newly built real estate market recovered

Construction

Alexander Veprikov via Shutterstock.com

After last year's low point, the newly built real estate market has recovered, according to OTP Ingatlanpont, writes gazdasagportal.hu.

In the first half of 2021 the sale of nearly 4,200 apartments in 111 condominium projects started in Budapest, which is an 80% increase compared to last year.

According to OTP data, nearly 13,000 apartments in the capital are under preparation in 72 additional projects.

“In terms of demand, while 4,700 newly built properties were sold in 2020 as a whole, we registered 3,200 transactions in the first half of 2021, which represents a 40% increase over time, ”said Dávid Valkó, senior analyst at OTP Ingatlanpont. 

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