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Shortage Of Plots Driving Prices Up In Hungary

• 15 Jan 2021 8:22 AM
• Budapest Business Journal

There has been a shortage of plots on the real estate market, and the constantly shrinking supply has had a serious effect on prices, says economic daily Világgazdaság.

In Budapest, for example, the prices of residential and suburban plots of 1,500 sqm or less have more than doubled: in January 2016, an average of HUF 40,000 was requested for a square meter in the capital, compared to 87,000 in January 2021.

Similar price rises can be seen in other big cities as well, pointed out László Balogh, the leading economic expert of Ingatlan.com, mentioning as an example that in five years the average price per square meter increased from HUF 13,000 to HUF 26,000 in Debrecen (225 km east of Budapest) and from HUF 12,000 to HUF 30,000 in Győr (120 km west).

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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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