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House prices seen rising for 2-3 years more

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In the next 18 months, around 15,000-20,000 new homes are set to boost supply on the housing market. Prices, however, may still continue to rise for 2-3 years, property market website ingatlan.com observed in an analysis Monday, reported by Hungarian news agency MTI.

According to the website, supply is catching up with demand, as reflected in a slower pace of increase in prices for new and used homes in the second quarter of the year. However, the analysis added that even greater supply will not immediately lead to lower prices because of the lull in home-building during the crisis.

Analyst László Balogh of ingatlan.com said home prices could rise at least 5-10% in the centers of bigger cities, but it is difficult to predict an average price growth as many new housing projects have started recently.

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