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Real estate prices will keep rising, says GKI

Real estate prices are set to rise across the board nationally in the next 12 months, with prices of resale residential homes increasing the most and prices of warehouse facilities the least, economic research institute GKI said on Wednesday, based on a representative survey conducted in October, Hungarian news agency MTI reported.

The survey shows that prices of resale homes should rise by 3.3% in the next 12 months from October 2018, prices of new homes by 2.7%, prices of office buildings and store facilities by 3%, and prices of warehouse facilities by 1.7%.

GKI expects price rises to be greater in West Hungary and lower in East Hungary, with price increases in Budapest midway between.

GKIʼs gauge of plans and prospects of real estate companies as well as households in the property market reached 11 points in Budapest, up by 5 points from the previous survey in July, while the national index was up by 4 points at 7 points.