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Aug 14, 2019

Hungarian property market experiences unexpected boom

Official figures show a record number of properties have been sold outside of Budapest.

A record number of properties have been sold outside of Budapest, it has been revealed.

Official figures show that 164,000 apartments were handled last year, which is 10,000 more than the number reported in 2017. This amounts to a 6.5 percent growth.

About 34,000 sales were registered in the largest metropolitan cities, three percent more than in 2017. The highest number of sales took place in Debrecen, which leads the statistics with 4,250 properties sold. Szeged came second with 3,536, while Miskolc was third with 3,241.

Most cities documented stagnation or relatively little changes. Szekszárd showed some of the worst results: a 13 percent drop in sales. The Central Bureau for Statistics ranks the city as the least-successful, with only 556 properties sold.

Photo: thebalancesmb.com