Home prices falling in Budapest, rising in rural areas

Residential

Photo by Fabio Balbi / Shutterstock.com

Data from listings site ingatlan.com show 80% of owners who changed the price while selling their home in Budapest reduced the offer price both in 2020 and this year.

At the same time, demand remains strong in rural areas and more than 40% of owners who changed the price after putting their home on the market increased the price this year compared to 30% in 2020, ingatlan.com said.

Although the housing market has started to recover from the shock caused by the pandemic, the recovery could mainly occur in the number of sales transactions this year with no room for nationwide double-digit price increases such as those seen in previous years, ingatlan.com noted.

The listings site projects home sales transactions to reach 135,000 this year, which would still remain below the almost 160,000 registered in 2019.

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