Pickup Expected in Balaton Property Market

Residential

Real estate agents are expecting a revival in the holiday property market, and buyers are expecting an expanding offer at Lake Balaton, writes business daily Világgazdaság [Global Economy], according to data from Duna House.

Transactions have tapered off because most owners position their property for sale above market prices. On the southern coast, buyers contract for an average of 4% and 10% less per square meter than the advertised price on the north coast.

According to Duna House's Balaton market report, 70% of the demand is for used apartments and houses at a lower price than newly built ones.

Real estate prices are 10% higher per square meter on the north coast than on the south. In terms of advertising prices, the north coast wins the price competition at an average of 17% higher, according to this year's transaction data from the real estate brokerage network.

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