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Foreign buyers and investors have virtually disappeared from Hungary’s housing market this year due to the coronavirus pandemic, according to Wednesday’s Magyar Nemzet. Citing ingatlan.com data, foreign participation in Hungary’s real estate market dropped by an annual 80% between January and October.
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Fidesz is protesting alleged plans by “Budapest’s left-liberal leadership” to allow construction at the site of a former open-air swimming pool complex in Cinkota, in the eastern suburbs of the city, a ruling party lawmaker has said.
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Budapest home prices were down 2.5% year-on-year in the second quarter, a decrease last seen in 2013, the MNB reported on Wednesday.
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Resale home prices were down 6.3% annually in the second quarter, which is the biggest drop in prices in the past five years, realtor Ingatlan.com said in an analysis complied from its own and the Central Statistical Office’s (KSH) preliminary data.
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The average price per square metre of a new builds in the capital rose by an annual 6.5% to 1,045,000, real estate broker Otthon Centrum said.
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In the third quarter of 2020, 59,785 sqm of new office space was delivered to the Budapest office market in four schemes, according to data compiled by the Budapest Research Forum (BRF).
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