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The 12th District residence to be given to outgoing President János Áder for lifelong use after May 9 has been renovated and ex-panded at a cost of nearly Ft 1 billion, the website Átlátszó reports.
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Hungarian mortgage rates have surged in recent months due to rising inflation and the MNB’s subsequent monetary tightening, which means that the size of loans that borrowers can take out under the MNB debt cap rules has declined significantly in one year, Portfolio writes in an analysis.
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A plan to build an international school in place of the former National Institute of Psychiatry and Neurology in Budapest has been declared a national economic priority investment by a government decree.
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Some 16% of residential properties offered for sale nationwide were under HUF 25 million in mid-April this year, compared to 26% last year, according to profitline.hu.
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Demand for homes in Hungary has "fallen significantly," mainly because of the increased cost of taking out a mortgage as interest rates rise amid climbing inflation, according to an analysis by listings site ingatlan.com.
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According to big real estate firm Duna House's first quarter transaction data, the average price per square meter of apartments in panel buildings in the capital has risen by HUF 100,000 compared to sales data from a year ago.
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