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Resale home prices fall 2%, new home prices down 6% in 2010

Resale home prices in Hungary fell about 2% on average last year, new home prices dropped 6%, according new data published by the Central Statistics Office (KSH).

The average price of homes for the whole country was HUF 276,000 per square meter. Average prices in Budapest was HUF 351,000 per square meter. Both resale and new home prices were down more than 7% since 2008.

The percentage of homes placed on the market fell to 1.9% in 2010 from 4.5% in 2007. There were no homes sold in 275 of 3,151 communities in Hungary in 2010.