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Survey augurs stagnating home prices in capital

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Home prices in the capital are expected to stagnate in the coming 12 months, according to a survey of businesses and consumers by economic research institute GKI, state news wire MTI reported.

About 59% of respondents to GKIʼs quarterly survey said they expect home prices in the capital to stagnate over the next 12 months, up from 30% in the previous survey conducted in July. The percentage of respondents who see prices continuing to rise plunged to 21%, from 68% previously.

GKI surveyed 1,060 companies, 110 real estate businesses, including developers and brokers, and a representative sample of about 1,000 private individuals.

Home prices in Hungary rose 14.0% year-on-year in the second quarter, faster than in any other European Union member state, show the latest data from the EUʼs statistics office Eurostat.

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