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.

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