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Real Estate Market Turnover up in August in Hungary

• 19 Sep 2022 1:57 PM
• Budapest Business Journal

After the low point experienced in the middle of the summer, the real estate market turnover strengthened in August based on Duna House's estimate, writes uzletem.hu.

The 9,748 sales and purchases estimated by the real estate agency group show an increase of more than 8% compared to the previous month, but still, a 14% lower turnover compared to the same period of last year.

Although August has always been stronger in the past five years, following the traditional trend, experts expect further expansion in the fall real estate market, which is about to change.

More than 40% of the transactions in Budapest were purchased for investment purposes. In the countryside, the willingness to renovate is twice as great as in the capital.

The proportion of property buyers over the age of 60 in rural areas has doubled.

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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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