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GKI Budapest property index slips, nationwide index unchanged

Analysis

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GKIʼs Budapest property index, a quarterly gauge of supply and demand as well as expectations of market players, slipped more than 1 point from the previous quarter to +2 points in April, while the nationwide index was almost unchanged at +1 point, economic research institute GKI said, as reported by Hungarian news agency MTI.

Householdsʼ plans to buy or build a home slightly weakened compared to the previous survey, but plans to renovate or upgrade homes changed little from a quarter earlier, GKI said.

The housing market index fell 7 points for Budapest and dropped 4 points for the country as a whole. 

On the office market, both the Budapest index and the nationwide index rose 2 points. Average occupancy on the Budapest office market was 87% in the first quarter of 2017, up 1.5 points from the previous quarter. In the eastern part of the country, occupancy rose from 76% to 83%, while in the west, it remained unchanged at 80%.

GKI said the Budapest logistics property index rose 5 points and the nationwide index was up 2 points from the previous quarter. Occupancy at logistic properties was up 1% at 86% around the capital, rose 2 points to 84% in the western part of the country, and climbed 3 points to 83% in the east.

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