Investment buyers return to Budapest home market in droves

Residential

Image by Pexels

Around 40% of homes purchased in the capital in November were bought for investment purposes, up from 24% in the same month a year earlier, state news wire MTI writes, citing a monthly report by listed real estate broker Duna House.

Buyers looking to move into a bigger home accounted for 22% of residential property transactions in Budapest in November, up from 18% in the same month in 2020.

The share of first-time homebuyers fell to 21% from 28% during the period.

Investment buyers paid HUF 46.7 million per home, on average. The average size of the property they bought was 62 sqm.

Buyers scaling up spent an average HUF 73.4 mln for a home 98 sqm in size.

First-time buyers spent HUF 39.2 mln for a 58 sqm property. 

Investment buyers accounted for 26% of home purchases in the rest of the country in November, little changed from the same month a year earlier. They paid HUF 21.5 mln, on average, for a 61 sqm home.

ADVERTISEMENT

Takarékbank lowers 2021 GDP growth forecast to 6.9% Analysis

Takarékbank lowers 2021 GDP growth forecast to 6.9%

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't Calls for technical screening of László Papp Arena City

Gov't Calls for technical screening of László Papp Arena

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.