The demand for pre-owned homes in Hungary has increased further compared to last year, making it possible for property owners to sell them even faster than before, estate agents Otthon Centrum found.
According to the survey of the real estate brokerage company, similar to 2021, panel apartment buildings could be sold the fastest in Hungary this year – an average of 58 days- while houses were the slowest to find a new owner within 144 days. In the pre-owned property market, the time required to complete a sale has shown a general decrease, with all types of property having sold faster than last year.
Meanwhile, brick apartments and houses were taken 10 days faster this year, while prefabricated houses found new owners 25 days faster, the real estate brokerage company said.
At the same time, regional comparisons show significant differences. Panel apartments were selling in 50-55 days in Budapest, 60-65 days in smaller cities. Those selling brick apartments had to wait 80 days in smaller towns, 100 days in most parts of Budapest, and 120 days in different municipalities across the country.
Houses sold in the outer districts of the Pest side of the capital and in smaller towns in 140-145 days, in 160 days in the villages, and in 205 days in Buda.
Otthon Centrum explained these figures by the simultaneous effect of several factors. Rising inflation has led more people to buy property as a worthwhile investment, while others have moved up their planned purchases because of uncertainties, the real estate brokerage argued.
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