Foreign interest in Hungarian property dwindles in H1
Monday, August 22, 2005, 00:00
A total of 2,651 foreigners purchased real estate in Hungary in the first half of 2005, compared with 3,225 buyers in January-June last year, business daily Napi Gazdaság reported.
Property sales in Budapest also dropped slightly, with 892 foreign buyers in H1 this year, down from 921 in the same period of 2004. Half of the decline was brought about by lower property sales in Gy?r-Moson- Sopron, Somogy and Baranya counties.
In the entire country, the largest number of properties was purchased by German investors (670), followed by Irish buyers (403). In Budapest, Irish and British investors accounted for 57% of property purchases in the first six months of the year.