GKIʼs Budapest, nationwide property indices edge down
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.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.