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Real Estate Discounts Getting Bigger In Hungary

• 24 Feb 2020 10:12 AM
• Budapest Business Journal

According to the latest sales data of OTP Real Estate, between November 2019 and the end of January 2020, buyers could receive an average discount one-third higher than a year earlier as a result of last-minute negotiations, writes penzcentrum.hu.

While at the end of 2018 and at the beginning of last year, when the contract was signed, the final target price was lowered by an average of 3.1%, a year later, buyers were able to reduce property prices by 4.4%.

For the whole of 2019, the average price per square meter of an apartment in Budapest was HUF 618,000, according to OTP mortgage data. So if you buy a 50 sqm flat, you could save up to HUF 1.35 million with a 4.4% bargain, penzcentrum.hu explains.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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