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Hungary ranked first

  September 10, 2016    Uncategorized    admin

European residential property markets have been on an ascending course for some time now, but

what is really interesting about the current stats is that Hungary is way ahead of everyone. It

registered the largest price increase of residential properties purchased by households both in annual

and quarterly terms in the first three months of 2016.

If you had doubts whether or not prices will rise further now you can see that the market did not lose

momentum even after a major increase last year. Moreover, the increase has only become steeper,

and the 5.2% q/q growth in Q1 is the largest we have seen in the rising trend since the crisis. Even

last year’s record in Q2 was only 4.4%. We do need to note, however, that the Hungarian Central

Statistical Office (KSH) has not yet published its first quarter stats therefore some correction of the

currently available data may be on the cards.

 

house-price-index-budapest-budapartment

 

So growth did not stop, as a result of which used residential properties cost 15.2% more at

the end of March than a year earlier. This also means that in the nearly two years since the

end of the crisis used home prices rose by over 29% on average in Hungary. The prices

are currently more than 5.6% higher that the Q3 2008 print, which was the precrisis

peak.

 

 


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