Property prices at a historic high: national average crosses the one-million-forint threshold
Published
The Hungarian real estate market has reached a new milestone: in September, the national average price per square meter crossed the psychological threshold of one million forints for the first time. This significant increase means that the price of residential properties in Hungary has grown by an average of 8.9 percent over the past year.
According to experts, several factors are behind the price hike, including the continuous increase in demand and changes in construction costs. Although the national average is constantly rising, market trends are not uniform everywhere. Interestingly, while national indicators are breaking records, growth in the capital's real estate market seems to have slowed down in the recent period.
In Budapest, where price increases were previously the most dynamic, the situation has now become more balanced. Both buyers and sellers have become more cautious, which is reflected in the number of transactions and the pace of price changes. Despite the slowdown in the capital, the one-million-forint national average clearly shows that property values continue to follow an upward trend.
Based on housing market data, future prospects remain uncertain. It is advisable for buyers to thoroughly inform themselves about local market conditions before making a decision. The economic indicators of the coming months and the development of the interest rate environment will largely influence whether the current rate of price increases can be sustained in the long term.
Sources: Traders Union
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