Hungary: Real estate market stands still
The property barometer index of the research institute Ecostat grew to 46% in Q2 from 45.6% in Q1. The raise can be considered stagnation, said director Pál Belyó.
The sales of studio flats dropped and the floor space of flats sold increased, and both tendencies are expected to prevail throughout 2008. Property investors expect a flagging interest in H2, especially with households, and they only trust in foreign investors.
Property sellers forecast a 5.5% growth in sales in H2. Property market players prognosticate inflation in the sector of 6.9% to 10.2% for 2008. Purchase prices might rise by 5.7% to 11%, rents are expected to see a 5.5% rise on average, say experts. The number of flats rented out is increasing, so is the duration of the rental period. In H1 central-Hungary saw the highest property prices, as well as the most diversified offers, said leading researcher Lenke Pólya. (Gazdasági Rádió)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.