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Resale home prices in Budapest seen falling 5%-20%

Though prices for resale homes in Budapest have not fallen since the end of last year, few sales are taking place, making a 5%-20% drop in prices likely, an analysis of the market by Duna House reveals.

Duna House sees the prices of resale homes in the HUF 15 million – HUF 20 million category dropping 5%-15% and the price of homes in the HUF 40 million – HUF 50 million range falling as much as 20%.

The average price per meter for a resale home in the capital is HUF 300,000. Flats go for an average HUF 476,000 per square meter in the city's exclusive District I and they can be had for an average HUF 220,000 in District X, the cheapest area of Budapest. (MTI – Econews)