Nearly one-third of Hungarian homes sold in July bought as investments
Approximately 30% of home purchases in Hungary in July were made as investments, according to data compiled by Duna House real estate broker franchises, Hungarian news agency MTI reported.
Investors planning to rent or resell at a higher price paid, on average, HUF 19.5 mln for a 70 sqm home. First-time home buyers made one-quarter of the purchases and paid, on average, HUF 18.3 mln for a 60-sqm home.
The average home price in the Pest side of the capital was HUF 279,000 per square meter. Prices averaged HUF 390,000 per square meter on the Buda side and HUF 439,000 in the city center. In western Hungary, the average home price was HUF 212,000 per square meter.
The prices exclude those of homes in pre-fabricated blocks of flats erected during the communist era. It took, on average, 85 days to sell a home in Budapest that was purchased in July. It took 216 days to close sales in the west of the country. Duna House estimated that 12,355 homes were sold in Hungary in July.
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