Real Estate Transactions Decline in Northern Agglomeration

Residential

The real estate market in the northern agglomeration of Budapest fell to a greater extent than in the capital, writes profitline.hu.

One of the reasons for this is that the owners here are much less willing to reduce prices, according to Frigyes Balla, the operational director of Balla Ingatlan, who nevertheless believes that this must happen sooner or later.

The significant drop in turnover affecting the entire domestic real estate market is more significant in the case of Dunakeszi (20 km north of Budapest) and its surroundings than in the capital.

In the difficult economic situation, fewer buyers accept the longer travel time and higher travel costs associated with agglomeration real estate, Balla added.

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