7% Rise in New Home Prices Forecast in Hungary

  • 7 Jan 2022 10:19 AM
  • Hungary Around the Clock
7% Rise in New Home Prices Forecast in Hungary
Analysts expect new home prices to rise by 7% this year, consultancy GKI found in its quarterly survey of 108 market participants in December.

Used home prices are expected to grow by 3-6%.

The used home market recovered in 2021 after the crisis in 2020. Demand is supported by rising household incomes and subsidies for families raising or having children.

According to the December survey, expectations among real estate businesses have barely changed from a quarter earlier.

In Budapest, the outlook has improved for concrete blocks of flats but has deteriorated somewhat for family houses.

Household expectations for purchasing or building homes have become significantly more optimistic both on a quarterly and an annual basis.

Housing market indices reached a low point in the second quarter of 2020, GKI observes, and have been improving substantially since then.

The results of the December survey also show this improving trend, the consultancy added.

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