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Report: Home sales expected to reach 150,000 in 2015

Sustainability

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Home sales in Hungary could grow to 150,000 this year, up from last year’s 114,000, real estate broker Otthon Centrum reported yesterday, adding that the projected number is just a fraction under sales prior to the crisis, but about one-fifth lower than the level necessary for a "balanced" market.

According to Otthon Centrum, the resale price of brick homes in Budapest saw a year-on-year rise of 15-20%, while this number rose by a y.o.y. 10% in western Hungary in the first half. The price of pre-fabricated, communist era homes was up more than 20% countrywide, the real estate broker said, adding that Hungarians are buying homes as investments as well to live in.

Otthon Centrum expects prices to rise at a slower pace once speculators tire of the market. In the coming years, prices could grow by 5-10% annually.

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