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KSH: Average home in Hungary worth HUF 12 mln

Sustainability

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The average home in Hungary was worth an estimated HUF 11.9 million in the fourth quarter of last year, according to a survey of homeowners conducted by the Central Statistical Office (KSH), Hungarian news agency MTI reported Tuesday.

In the capital, homeowners estimated their homes were worth HUF 17.5 mln on average. The average estimate was HUF 12 mln in county seats, HUF 11.1 mln in other cities, and HUF 8.3 mln in smaller communities. 

KSH noted that 21% of respondents in the survey could not or would not put a price on their homes, and 7% said they could not sell anyway.

KSH said most homes have a market value of HUF 7-8 mln and around half are worth less than HUF 10 mln. A little more than one-third of all homes are worth HUF 10-20 mln, around one-tenth are worth HUF 20-30 mln, and less than 5% are valued at more than HUF 30 mln.

The survey showed that 7% of respondents were still living in their first home, while around 30% had lived in two homes, 30% in three homes, and 20% in four or five homes.

Of the 1.3 mln households that relocated in the ten years to 2015, around 44% bought resold homes, 28% rented private homes, 6% bought new homes, and 6% built their own homes.

About 280,000 households moved into their first home during the period, and three-quarters of these became first-time homeowners.

About 35% of the capitalʼs residents have moved in the past ten years, while 7% have left the capital altogether.

The percentage of households who have moved within their community stood at 30% for county seats, 21% for other cities, and 12% for smaller towns and villages.

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