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16th November, 2017

Home price gap hinders mobility

In some parts of Budapest the average home price rose by 84% over the last five years while the increase was 50% in Gyõr-Moson-Sopron county; in poorer regions, however, homes remain inexpensive, Népszava said on Wednesday.

The price increase was not caused by higher quality but increased demand, property market expert Péter Telekes commented. In flourishing regions job offers attract people from other regions.

In Hungary some 96% of people live in homes that they own, sociologist János Szabó underlined. As a result, moving from a poorer region to a richer one is hindered by the price gap of homes. Home ownership, Szabó argued, is a barrier to regional and social mobility.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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