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Panel house market momentum slows

A slowdown has arrived even for the cheapest available panel flats, says piacesprofit.hu. The 5% rise in Budapest prices over the past six months also means that the appreciation rate has fallen by half, as panel flat supply is now up 18% compared to December last year. 

Photo by Peter Gudella/Shutterstock.com

Demand in the second-hand housing market in Budapest dropped significantly in June this year, and since then the average floor area of prefabricated apartments has increased by 5% to HUF 578,000 by December.

The rate of appreciation may have slowed down, but it is still an increase of 18% year-on-year. The average price per square meter of brick-built flats was stagnant compared to June, so at the beginning of December the average price was HUF 800,000 per square meter, which is 13% higher than the price level one year earlier, piacesprofit.hu. said.