Investment buyers return to Budapest home market in droves
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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.
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