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Housing developers unsettled by war

Residential

Photo by FOTOGRIN/Shutterstock.com

"Developers are in a worse mood than buyers," is the market sentiment characterized by Tamás Kricsfalussy, executive of one of the largest housing construction companies in Budapest, the Metrodom Group, according to Világgazdaság.

The head of the company told the leading business daily that after a long process of housing construction, investors were in an extremely difficult position due to unpredictable cost factors, and energy and building material price rises caused by the war.

Bringing a new home project to market means that a product completed in a year and a half will now have to be priced at a cost that developers can keep.

Due to the unpredictable budget and calculation of consumer prices, the market introduction of new projects has slowed in the last month since the outbreak of the war.

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