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The number of completed homes increased by 34.4% to 8,697 in the first half of 2020, compared to the same period last year while the number of new building permits dropped by 32.6% to 12,475 during the period, the Central Statistical Office (KSH) said.
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Real estate rental fees are falling nationwide, with prices down by an average 10%, at around 150,000 forints (EUR 433) in Budapest and 100,000-110,000 in university cities, an expert of real estate site ingatlan.com said.
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According to data from Otthon Centrum, students should be able to find an apartment for rent up to 20% cheaper this summer, writes Forbes.hu.
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According to the latest housing price index published by Eurostat this week, covering the first quarter of 2020, Hungary ranks last among the 27 EU countries in terms of change in real estate prices, writes penzcentrum.hu.
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The Socialists will submit a proposed legal amendment in September on restricting over-development around Lake Balaton, according to Zsolt Molnár, head of the party’s Budapest chapter.
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The Hungarian parliament amended the regulation on private accommodation, allowing local governments to limit the number of days they may be leased for in a calendar year.
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