ONE THIRD OF HOMES STILL SOLD IN BUDAPEST FOR INVESTMENT PURPOSES
Fully 33% of home purchases in the capital in April were made for investment purposes, essentially the same as last April’s ratio, data from real estate broker Duna House shows.
Investors who bought homes in the capital paid on average 24.6 million forints (EUR 78,500) for a 61 square meter flat in April 2016. First-time home buyers accounted for 22% of transactions in the capital. The average price of a brick home on the Buda side of the capital was 456,000 forints per square meter while on the Pest side it was 312,000.
The per-meter prices for a per-fabricated communist era flat in Buda and Pest were 333,000 forints and 300,000 forints, respectively.
Outside of the capital 21% of home purchases were made as investments and 29% of home buyers were looking to move into a bigger space. The average price of a brick home outside of the capital was 212,000 forints per square meter in the west of the country and 191,000 in the east in April this year.
Prices have risen considerably compared to the same month a year earlier when they stood at 181,000 forints per square meter in the west and 158,000 forints per square meter in the east.