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Over 50% of Budapest home purchases made for investment

The ratio of those buying a home in Budapest for investment purposes exceeded 50% in the past two months, listed real estate agency Duna House said on Friday, according to state news wire MTI.

Buyers purchasing a home in the capital for investment purposes generally look for homes with an area of 50-60 square meters, in the HUF 36-40 million price range. These properties appear on the rental market almost immediately after purchase, Duna House said.

Home purchases made for investment purposes made up between 31% and 46% of all transactions every month in the past two years, reaching 53% in December 2018 and 54% in January 2019, the agency noted.

People buying their first home account for 20-25% of all home purchase transactions in Budapest, Duna House added.