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Otthon Centrum home sale closings climb 15% in 2010

Otthon Centrum, which runs one of the biggest chains of real estate brokers in Budapest, made about 15% more closings in 2010, managing director Kata Kühne said in Thursday's issue of business daily Világgazdaság.

In 2009, Otthon Centrum's closings were down 15-30%, Kühne said.

It was a buyers' market in the capital this year, with sellers cutting prices about 5%.

Real estate brokers who work for big chains now control about 50% of the home sales market in Budapest, Kühne said.

Ákos Murányi, the chief analyst at Duna House, another big real estate broker in the capital, said stagnation continued on the market in 2010. (MTI-ECONEWS)