EconomySociety

Home Prices On The Rise In Hungary As Housing Crisis Remains “Severe”, Reports Reveal

The rise in home prices in Hungary is slowing as supply grows, a survey by home sales portal ingatlan.com shows. The average price of resale homes in Budapest has risen by 26% to 418,000 forints (EUR 1,320) per square metrei n the past twelve months, but prices are up just 3% from the first quarter, ingatlan.com said.

For the country as a whole, resale home prices now stand at 305,000 forints per square metre, up 28% in a year, but only 5.5% higher than in the first quarter. The price of new homes in the capital averages 544,000 forints per square metre, up an annual 22% but just 1% higher than in Q1. The survey was based on more than 50,000 home listings by private individuals in communities with populations over 10,000.

Meanwhile charity organisation Habitat for Humanity in Hungary said that housing crisis in Hungary is “still severe” and affects millions of people. The organisation’s head, Luca Koltai, outlined the findings of Habitat’s report on housing poverty covering last year. There are around 30,000 homeless and government interventions are not helping to alleviate problems, she said.

There were 840,000 people with “affordability problems” while 2.5 million — 500,000 children among them — lived in leaking and damp properties. Further, four million people experienced crowded living conditions. Around 300,000 lived in towns and villages with poor employment opportunities, too few schools and inadequate health care, according to Habitat.

via hungarymatters.hu and MTI