Tuesday, May 31, 2016. 10:51

Analysis: Home sales expected to reach 155,000 in 2016

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The number of home sales in Hungary is foreseen to grow to approximately 155,000 from the previous year’s 130,000-135,000, according to an analysis conducted by real estate broker Otthon Centrum, a press release said yesterday.

Otthon Centrum expects the number of new homes to rise to approximately 10,000-12,000 by the end of the year, up from last year’s 7,600, the press release reported. According to Otthon Centrum, the increase could be boosted by the Hungarian government’s home purchase subsidy scheme, as well as simplified procedures for obtaining building permits.

Data by Otthon Centrum show that the price of resale homes in Budapest grew by approximately 30% in the first quarter of the year as compared to the same period a year earlier, while the price of new homes increased by 25%.

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