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Fewer real estate projects launched in Q1

The effects of the coronavirus are already being felt in the real estate market, as evidenced by the launch of 27 new projects in Budapest in the first quarter of this year, down 37.2% from the same period last year, writes hvg.hu.

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Gábor Soóki-Tóth, head of analysis at Otthon Centrum, which claims to be the leading company in Hungary trading and advising on residential properties, said that the average price per square meter of newly built homes in Budapest increased by 10.4% year-on-year to an average of HUF 1.012 million.

The highest average unit prices are those for Districts I, II, V, and XII, where the price level is above HUF 1.5 million per square meter, hvg.hu adds.