ADVERTISEMENT

Supply of cheaper real estate drying up

Residential

Photo by Andrey_Popov / Shutterstock.com

Some 16% of residential properties offered for sale nationwide were under HUF 25 million in mid-April this year, compared to 26% last year, according to profitline.hu.

This also means their number has fallen from 32,000 last April to just over 16,000.

The share of residential properties cheaper than HUF 25 mln in the capital was less than 3%, while it was above 9% last year.

The decrease in the supply of more affordable real estate is jointly responsible for the rise in the price of housing and the domino effect in the housing market.

Within the national market, the average price of residential real estate for sale in Tolna, Nógrád, Jász-Nagykun-Szolnok, Borsod-Abaúj-Zemplén and Békés counties remained below the HUF 25 mln level.

The counties in question were characterized by an average price of HUF 16 mln-23 mln.

ADVERTISEMENT

Bulgaria's household spending rise outpaces income growth in... Analysis

Bulgaria's household spending rise outpaces income growth in...

Parl't elects Orbán prime minister Parliament

Parl't elects Orbán prime minister

New managing director at LG Electronics Hungary Appointments

New managing director at LG Electronics Hungary

Hungary Grande Partenza 'exceeded all expectations' - gov't ... City

Hungary Grande Partenza 'exceeded all expectations' - gov't ...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.