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GKIʼs Budapest, nationwide property indices edge down

Analysis

The Budapest and nationwide property indices of economic research institute GKI show that householdsʼ plans to buy or build a home slightly weakened in July compared to the previous survey, while plans to renovate or upgrade homes also deteriorated slightly, according to state news wire MTI.

GKIʼs Budapest property index, a quarterly gauge of supply and demand as well as expectations of market players, slipped 1 point from the previous quarter to 1 point in July, while the nationwide index stood at 0, also down 1 point from a quarter earlier.

The housing market index rose almost 3 points for Budapest and dropped more than 1 point for the country as a whole compared to April.

On the office market, the Budapest index was almost unchanged, while the nationwide index rose by more than 1 point.

Average occupancy on the Budapest office market was close to 87% in the second quarter of 2017, almost unchanged from three months earlier. In the eastern part of the country, occupancy fell from 83% to 78%, while in the west, the same index rose from 80% to 85%.

GKI said the Budapest logistics property index fell 7 points and the nationwide index was down almost 2 points compared to April.

Occupancy at logistic properties was 84% around the capital compared to 86% a quarter earlier, was unchanged at 84% in the western part of the country, and edged down from 83% to 82% in the east.

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