Housing market developments point to strengthening trends
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Current housing market developments point to a strengthening of previous trends, writes profitline.hu.
The market for new and second-hand residential real estate became even more fragmented in the summer. In the case of new builds, supply is growing, demand is strengthening, and prices are also going up.
Meanwhile, the price of second-hand homes has slowed across the country. The pace is very different between Budapest and rural housing markets, partly due to the appreciation of county capitals, which are becoming more popular among investors.
Supply has narrowed in the second-hand housing market, while the number of inquirers has fallen by 14% year-on-year and by 5% compared to the summer of 2019. Rising prices and declining sales could trap households planning to relocate, which could bring price adjustments in the future if these trends do not change.
In mid-September, the average price per sqm in the supply market was HUF 770,000 in Budapest.
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