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Housing was 15% more expensive, on average, in the first half of the year than in the same period of 2017, estate agents OTP Ingatlanpont said, based on home sales figures from the tax authority NAV.
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Real estate prices continued to go up over the past twelve months in Budapest, where the biggest increase was reported in the residential area of Hűvösvölgy on the Buda side, business daily Világgazdaság said.
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A park in Budapest’s south-western 11th district will be named after Nelson Mandela, under a decision by the city council.
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Compared to August last year, home prices per square meter in Budapest have risen on average 20%, but there is wide variation in prices and growth depending on the zone of the city, a study by real estate database ingatlan.com shows.
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Chinese buyers are active on Hungary’s real estate market, and tend to buy the most expensive real estate, according to property franchise chain Duna House.
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Construction of the House of Hungarian Music, an educational, museum and concert venue designed by the world famous Japanese architect Sou Fujimoto, will soon start as part of the Liget Budapest project in the City Park.
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