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27th July, 2018

Housing market expands in 2017

New home prices in Hungary climbed 12.2% year-on-year in the first quarter and were up 4% from the previous quarter, according to a market survey by the Central Statistics Office.

Resale home prices grew at a faster rate on an annual basis, up 12.4%, with a 3.6% quarter-on-quarter increase.

The number of homes sold last year grew 5.1% to 154,000, boosting the total value of these transactions to Ft 2.2 trillion, for 16% annual growth.

The average price of used homes was Ft 24.4 million in Budapest, a 3.2% annual rise. The same for homes in county seats rose by 13% to Ft 13 million.

The price gap between Budapest and the countryside continued to widen. The average price per square metre for resold homes was Ft 463,000 in Budapest, Ft 141,000 in small towns and Ft 70,000 in villages.

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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