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8th January, 2019

Many new homes coming on market

More than 20,000 new homes will hit the housing market in 2019, property agency Ingatlan.com estimated on Monday.

Because many new homes are bought as a financial investment, the arrival of new homes on the market will also affect home rental rates.

The increased supply will reduce the 10-20% premium on renting a new home, although general home rents will not decrease, according to Ingatlan.com.

As housing prices are high, many people moving to Budapest will have to opt to rent rather than purchase a home. This will add to demand for rental units.

In early January, the average home rent prices were Ft 150,000 a month in Budapest, Ft 100,000 in Győr and Ft 95,000 in Debrecen.

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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