GKI-MGYOSZ nationwide property index up slightly, Budapest index unchanged

Analysis

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GKI-MGYOSZʼs nationwide property index, a quarterly gauge of supply and demand as well as expectations of real estate market players, rose 3 points to +2 points in January from the previous quarter, economic research institute GKI said, according to Hungarian news agency MTI.

Householdsʼ plans to buy or build a home were little changed compared to the previous survey, but fewer people had plans to renovate or upgrade their homes than either a quarter or a year earlier, GKI said.

The number of households that definitely plan to buy or build a home fell from 21 to 15 of the 1,000 people polled in the representative survey, while the number that are inclined to do so rose somewhat from 81 to 92.

GKI-MGYOSZʼs gauge of the property market in the capital was almost unchanged at +4 points.

The housing market index improved by 2 points for Budapest and remained unchanged for the country as a whole. 

On the office market, the Budapest index rose by 1 point and the nationwide index was 3 points higher. Average occupancy on the Budapest office market was 85.5% in the fourth quarter of 2016, up 2 points from the previous quarter. In the eastern part of the country, occupancy rose from 71% to 76%, and in the west, the same index climbed from 76% to 80%.

GKI said there was a negative correction on the logistics property market as the Budapest index fell 4 points and the nationwide index was down 1 point from the previous quarter. Occupancy at logistics properties was unchanged at 85% around the capital, also unchanged at 82% in the western part of the country, and climbed from 76% to 80% in the east.

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