Shortage of plots driving prices up
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There has been a shortage of plots on the real estate market, and the constantly shrinking supply has had a serious effect on prices, says economic daily Világgazdaság.
In Budapest, for example, the prices of residential and suburban plots of 1,500 sqm or less have more than doubled: in January 2016, an average of HUF 40,000 was requested for a square meter in the capital, compared to 87,000 in January 2021.
Similar price rises can be seen in other big cities as well, pointed out László Balogh, the leading economic expert of Ingatlan.com, mentioning as an example that in five years the average price per square meter increased from HUF 13,000 to HUF 26,000 in Debrecen (225 km east of Budapest) and from HUF 12,000 to HUF 30,000 in Győr (120 km west).
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