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6th August, 2018

BMW factory to lift real estate prices in Debrecen

Home prices in Debrecen could rise by up to 40% in three or four years, when German carmaker BMW starts production in its new factory in the city, Nándor Mester, chief analyst of real estate group Otthontérkép Csoport told state news channel M1.

BMW announced last week that it will build a €1 billion factory by 2023, with annual capacity to manufacture 150,000 vehicles.

Real estate prices increased dramatically in recent years in Győr and Kecskemét when German carmakers Audi and Mercedes-Benz opened factories.

There are three big home construction projects under way In Debrecen, one of them near completion, Mester said.

The other two will be completed by the end of 2019, creating a total of 350 homes.

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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