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Investors have returned to the capital’s real estate market, with investment buyers accounting for 41 percent of transactions in September after the second quarter low, Duna House real estate agency reveals. The most popular locations were Erzsébetváros (7th District), Józsefváros (8th District), Angyalföld (13th District), and Terézváros (6th District).
Barometer data of Duna House shows the 41 percent investor presence in the capital is down from last October’s peak of 55 percent, but it is the third strongest month this year after 43 percent in March, and 42 percent in January.
Last year, 27 percent of all transactions in Hungary were for non-owner occupied housing, with investor activity falling to 22 percent in the first three quarters of the year. In the capital, the second quarter was the weakest, and outside Budapest in the period between July and September, 23 percent of people invested their savings in property.
In the capital, 13 percent of buyers who signed an investment contract chose a property in the 7th District, and 10 percent in the 8th District. The 13th and 6th Districts were also popular, with nine percent.
The 13th District was the most expensive after the 1st and 2nd Districts, with average prices per square meter exceeding HUF 1.1 million (EUR 2,900). In areas outside the capital, the share of investment properties accounted for a fifth (21 percent) of all transactions in September, up from a peak of 38 percent in January, Duna House notes.
Via MTI, Featured image: Pixabay