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Aug 01, 2019

Hungarian house prices to rise by 4 to 7 percent over the next year

A survey by economic research institute GKI has forecasted a 4 to 5 percent rise in home prices for the coming twelve months. New house prices are expected to climb 4 to 7 percent.

A survey by economic research institute GKI has forecasted a 4 to 5 percent rise in home prices for the coming twelve months. New house prices are expected to climb 4 to 7 percent.

According to MTI, the quarterly survey shows that the prices of centrally located homes in the capital could rise by 10 percent.

GKI drew on responses from more than 1,200 companies and a representative sample of 1,000 people for the survey.

Meanwhile, new Central Statistical Office (KSH) data shows the number of home building permits issued in Hungary rose by 0.9 percent to 18,227 in the first half of 2019.

The number of home building permits issued in Budapest edged up by 0.6 percent to 6,153. The number issued in county seats and cities with over 50,000 residents fell by 3.2 percent to 3,978. The number in other cities was down 5.7 percent at 4,838, and the number in smaller communities jumped by 20.4 percent to 3,258.