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1st time buyers account for nearly quarter of home purchases

Government measures supporting families with children have raised the proportion of first-time homebuyers to 22% in the capital and 24% in the rest of the country, data compiled by realtor Duna House show, Hungarian news agency MTI reports.

This year, first-time buyers are expected to sign contracts for 35,000 homes, Duna House said.

Last year, the number of homes purchased in Hungary was a little more than 146,000.

The average first-time homebuyer in Budapest spends about HUF 30 million on a 55 sqm flat. In the rest of the country, the average first-time buyer spends HUF 17 million on a 74 sqm home.