Real estate prices are continuing to rise in Hungary, according to official Eurostat figures.
In the third quarter of 2017, prices rose not only in Budapest, but in other towns and cities across the country.
Eurostat figures show that home prices grew 3 percent compared to the previous quarter and 10.2 percent compared to Q3 of 2016. In previous quarters, the year-on-year increase reached 10.3 percent in Q1 and 10.1 percent in Q2.
According to BBJ, preliminary figures released by the Hungarian Central Statistical Office (KSH) show roughly the same rate for Q3 year on year, a 9.9 percent growth for secondhand homes and 15.7 percent for new properties.
It’s not only property prices that are increasing. Rent is also going up in Budapest and other towns and cities across Hungary.
According to Vg.hu, the average rental price in Budapest has risen to between 130,000 HUF (420 EUR) and 140,000 HUF (450 EUR) per month. In the last 5-6 years, average rental prices have doubled in Budapest, according to the report.