Investor Interest Strong in Hungarian Property Market
- 5 Jan 2023 9:49 AM
- Hungary Around the Clock
Investors accounted for more than 40% of home purchases in Budapest in every month of 2022 except June, listed real estate broker Duna House said.
The proportion of home purchases by investors in Budapest peaked at 55% in October, the highest level since 2019.
Outside the capital, this figure is significantly lower, averaging 25-33% during 2022.
The proportion of investors rose from 17% in 2021 to 27% last year.
The increase in investor presence shows that, despite the rising interest rate environment and negative economic trends, confidence in real estate is still strong, said Duna House PR chief Károly Benedikt.
In the average transaction in Budapest, investors spent close to Ft 53 million on a 66m² home.
In the countryside, the average investment was half of that amount, at Ft 27 million for homes of 67m² in size.
Duna House forecasts that the presence of investors in the housing market will remain strong in 2023.
XpatLoop Media Partner
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