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Jun 13, 2019

Hungary’s housing market boom continues

3,266 apartments are up for grabs in Budapest, 1,700 in larger cities, and 700 in small towns and remote locations.

A record number of new properties are up for sale in Hungary indicating the housing market boom is ongoing.

A whopping 6673 new flats were being advertised by early June this year, according to the leading website for property ads, Ingatlan.com.

3,266 new apartments are up for grabs in Budapest, 1,700 in larger cities, and 700 in small towns and remote locations.

5,073 properties were granted building permits in the first four months of 2019, marking a 21 percent increase in comparison to the numbers measured this time last year. 22 percent more building permits were issued for family houses in the same time span, and there was a 17 percent increase in permits granted to properties with two rooms or more.

László Balogh, senior analyst at Ingatlan.com, explains that the growth has to do with low interest rates, state-sponsored packages and a widespread interest in property investments.

Photo credit: vg.hu