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Ecostat real estate barometer climbs further in Q4

Ecostat's Real Estate Barometer, a measure of sentiment on Hungary's property market, measured 38.5% in the fourth quarter, up 3.1 percentage points from the previous quarter and 6 percentage points from Q2, department head Csaba G. Tóth said on Tuesday.

The full-year index for 2009 measured 35.6%, down 9.3 percentage points from 2008 and 17.9 percentage points under the index's full-year peak in 2002.

The sub-index for real estate sellers rose 2.5 percentage points in Q4 to 42.5%. The property investor sub-index climbed 1.3 percentage points to 25.2%.

Hungary's property market will stagnate in 2010, judging from the drastic drop in building permits issued, Tóth said. The value of home loans signed plunged to HUF 20 billion in the month of December, down from HUF 90 billion in the same month a year earlier, he added.

Demand on the resale home market is seen growing only for 50-square-meter to 55-square-meter flats and prices are set to rise only for homes in very good locations. (MTI-ECONEWS)