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GKI: Property index climbs

Sustainability

The National Property Index,which is a biannual gauge of supply and demand as well as expectations of market players collected by economic research institute GKI, rose by almost three points reaching 105.5 in October, GKI reported today.

The gauge of the property market in the capital also rose by three points from April, reaching 109 in October. The indices are above the 100 mark, which reveales average conditions for the second time since the middle of 2008.

GKI expects new home prices in Budapest to rise 1% in the upcoming period, while prices of resale homes are expected to edge up 0.7%. GKI said six of every 1,000 households has firm plans to buy or build a home, while 23 want to renovate or expand their homes.

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