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Housing Market Revs Up In First Quarter

• 23 Apr 2021 7:31 AM
• Hungary Around the Clock

Real estate broker Otthon Centrum reported record turnover during the first quarter, as the January-March sales data was the strongest in 20 years for the period with a 40% year-on-year rise in the number of transactions.

The real estate market was driven by postponed demand and supply from 2020.

Growth was strongest on the Buda side and in outer Pest districts.

Transactions in inner city districts were up by 15%.

The rapid rise in home prices decelerated, according to the report. Brick homes cost 6.8% more than a year earlier and the price of pre-fabricated (panel) homes increased by 4.2% year-on-year.

Prices grew above average in Pest county, up 20%.

The price per square metre for family homes rose 16% on average and in some regions the rate of increase topped 20%.

The period for selling homes increased to 100 days for pre-fabricated flats and 125 days for brick flats.

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