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The ratio of those buying a home in Budapest for investment purposes exceeded 50% in the past two months, listed real estate agency Duna House said on Friday, according to state news wire MTI.
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The Hungexpo fairgrounds in the capital will undergo an almost 50 billion forints (EUR 156.6m) upgrade, Budapest mayor Istvan Tarlós said in an interview in daily Magyar Nemzet.
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According to the Neighborhood Price Index 2019 by Nestpick, a worldwide aggregator website for furnished apartments, a monthly salary as high as nearly EUR 1,720 (approx. HUF 545,000) may be needed in order to comfortably afford a single-person apartment in Budapest.
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According to the National Bank of Hungary’s house price index, prices increased annually at a nominal rate of 15.7% and by 11.7% in real terms in the third quarter of 2018 compared with the same period last year.
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The average price of existing homes was up 10.7% year-on-year in the third quarter of 2018, while new home prices were an average of 4.3% higher than one year earlier, the Central Statistics Office just announced.
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Radostina Kraleva, a Senior Accountant at Coca-Cola HBC Careers, recently asked the local expat community (via XpatLoop's Facebook group) for advice about any organisations that take care of tenant's rights in Hungary. For your interest here are related helpful hints and tips from Xpats in the loop.
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