Pickup Expected in Balaton Property Market

  • 17 Jun 2024 5:03 PM
  • Budapest Business Journal
Pickup Expected in Balaton Property Market
Real estate agents are expecting a revival in the holiday property market, and buyers are expecting an expanding offer at Lake Balaton, writes business daily Világgazdaság [Global Economy], according to data from Duna House.

Transactions have tapered off because most owners position their property for sale above market prices. On the southern coast, buyers contract for an average of 4% and 10% less per square meter than the advertised price on the north coast.

According to Duna House's Balaton market report, 70% of the demand is for used apartments and houses at a lower price than newly built ones.

Real estate prices are 10% higher per square meter on the north coast than on the south. In terms of advertising prices, the north coast wins the price competition at an average of 17% higher, according to this year's transaction data from the real estate brokerage network.


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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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