Real Estate Prices Declined in November

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Hungary saw a decrease in real estate prices in November, according to infostart.hu. The average fall was 0.2%, but there were significant regional differences.

According to László Balogh, the leading analyst of Hungarian property search website ingatlan.com, 0.2% is not a substantial decrease on a national level.

However, in an annual comparison, that rate is 2-3%. In some cases, mainly in big cities, that means millions of forints. The most significant increase happened in the North Great Plains region, while the highest decrease was in the West Transdanubia, close to the Austrian border.

The latter is strange since more Hungarians try to work in Austria and live close to the border to use the higher wages they get in Austria to have a higher standard of living in Hungary.

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