First-Home Buyers Down in Hungary

  • 20 May 2022 12:52 PM
  • Hungary Around the Clock
First-Home Buyers Down in Hungary
First-time home buyers accounted for 18% of home purchases in Budapest in the first quarter, down from 26% in 2021, 25% in 2020 and 22% in 2019, property agency Duna House estimates.

The average size of the first home bought in the city was 55m2, the same as in 2021.

The average price of the first home came to Ft 38.3 million in Budapest, up from Ft 30.3 million in 2019.

Elsewhere, first-home buyers spent an average of Ft 28 million on homes with an average size of 80m2 in the first quarter.

First-time buyers were behind 21% of purchases outside of Budapest in the first quarter, down from 26% in 2020.

The proportion of first-time buyers has declined recently, probably due to rising home prices, analyst Károly Benedikt of Duna House commented.

They are not expected to have an easier time this year, he added, as in addition to higher prices, obtaining credit will also be more difficult due to rising interest rates.

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