In January-February 2016, the housing market changed a lot in just two months compared to the end of the previous year. According to real estate experts, it seems that apartments with an average floor area of 60-70 are bought rather than 40-50 square meters. However, due to the shortage of supply, the average price of newly built homes increased by 5-15 percent over the same period.
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Demand increased mainly due to the maximum Family Home Discount support for three-child housing for newly built real estate with currently limited supply. This revival can be seen in both supply prices and realized sales transactions, with the market picking up significantly in January and February in both the capital and the countryside.
New home prices and completed transactions
According to market movements, prices are being pushed up by demand picking up and, as a kind of self-fulfilling prophecy, rumors of a significant rise, pushing up prices due to buoyant demand. Realization data also shows that the prices of new homes in most districts of the capital increased by an average of 10% compared to the price level at the end of last year. According to experts, families with three children who want to buy a home in the capital are forced to use their savings or those who do not have to think about taking on a further home loan with the maximum limit of Family Home Discount 10 + 10 million.
Prices of newly built apartments
In the capital, the XI. or XIII. district, that is, the districts with the largest supply of newly built homes, have been characterized by higher prices and larger floor space.
The average price per square meter in the county counties was around 240-350 thousand HUF / sqm in the first two months of this year. Here GYOR is the most expensive, though unlike the above, the price increase has stopped.
Although the number of new home purchases has increased noticeably, most rural towns and cities have benefited from more favorable unit prices.
Changes in used housing prices
In the first two months of this year, the unit price of used condominium flats was between 220-660 thousand HUF / sqm. IV, VI, XVIII and XXI. Except for districts, the price increase was below 10% in most districts. The price increase moderated slightly in Buda I and II. and downtown in the 5th district, where the most expensive unit prices were above 500,000 HUF / sqm. It is worth noting that there is a huge difference in demand between investment-favored streets, good-quality homes and poorly-located, unfocused, residential properties.
Compared to the last two months of last year, the price per square meter in rural towns was 4% higher, which in the first two months of this year was between 125 and 290 thousand HUF.
According to our real estate market expert, which started from a very low price level in 2015, experienced a 25-30 percent increase, while prices in Good Finance or Good Lender decreased by 10-20 percent compared to the end of last year. Smaller settlements have not yet had enough sales to be statistically valid, so in these cases it takes longer to be certain that trends in the processes involved will be recognized.
Of course, Family Home Discount 10 + 10 and other government grants are also available in other municipalities throughout the country. Good Finance’s credit brokerage colleagues help guide the legal jungle of grants. Among the many incomparable offers from home mortgage banks, we find the financial institution that best fits your home’s purpose.