In the last 2 years in the real estate market in Hungary there was a rapid increase in the cost per square meter. In 2015, the annual price has grown by 17.78%. If the primary housing prices have risen by 6.74%, on secondary market prices rose by 11.78%.
In the Hungarian capital Budapest, the cost of apartments has increased by 14.93% during only the last quarter of 2015. The number of loans for the purchase of second homes rose by 36.5%.
The number of real estate transactions increased by 4.9%, however, the highest activity was characteristic only for the first half of 2015. In the third and fourth quarters sales were much slower.
In the first quarter of this year the number of building permits increased by 38.8%. However, in the first quarter GDP fell up to 0.9%. This result is due to the low construction activity and low growth industry. All these factors, according to experts from Global Property Guide, may soon lead to a downturn in the housing market.
Based on the materials of realty.vesti.ru