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According to new data released by Hungary’s Central Statistical Office (KSH), foreign citizens bought 6,600 apartments in Hungary last year, spending a total of HUF 309 billion (around EUR 624 million). This represented 6.4% of all residential property transactions.
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Around 6,600 foreign nationals bought homes in Hungary last year, real estate broker OTP Ingatlanpont said on Thursday, citing data compiled by the Central Statistics Office (KSH).
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The Kúria, Hungary’s supreme court, has ruled that the ban on short-term rentals adopted by Budapest’s Sixth District is lawful and does not infringe on the constitutional right to free enterprise.
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Home rental rates in Hungary rose 6.3pc year-on-year in October, data compiled by the Central Statistics Office (KSH) from listings site Ingatlan.com show.
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Demand for residential properties in Hungary fell by close to 20pc from a month earlier in October, while it was down just 1.5pc from the same month last year, listings site Ingatlan.com said.
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New home builds slipped, but permits issued for residential construction climbed in Q1-Q3 from the same period a year earlier, data released by the Central Statistics Office (KSH) show.
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