New and resale home prices continue to grow
Image by Pexels
Average prices for new homes rose 7.2% in 2017; at the same time, prices of resale homes increased at the same pace, according to a summary of data published by the Central Statistical Office (KSH).
Prices for new homes have risen for five years in a row for new homes and for four years for resale homes, according to KSH data cited by state news agency MTI. In 2016, the price rise for new homes was 10.5%, and 13.3% for resale homes.
Adjusted for changes to the composition of homes sold as well as price, prices were up 13.5% for new homes, and 5.8% for resale homes in 2017.
Based on preliminary numbers, the KSH said that at least 134,200 homes were sold in Hungary in 2017, compared to a final figure of 146,300 in 2016. Within the preliminary figures, 129,700 homes were resale homes and some 4,500 were new homes. Last year 7,300 homes were built specifically to be sold.
In the capital, resale homes sold for HUF 24 million on average, HUF 2.6 mln more than in 2016. The average price per square meter of resale homes reached HUF 415,000, which was 15% higher than the year before. In county seats, resale home prices rose 13% and climbed 7.3% in smaller cities.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.