Third Of Homes Sold In July In Hungary Bought As Investments

  • 11 Aug 2015 9:00 AM
Third Of Homes Sold In July In Hungary Bought As Investments
Fully 30% of home purchases in Hungary in July were made as investments, according to data compiled by Duna House estate agent. Investors planning to rent or resell at a higher price paid, on average, 19.5 million forints for a 70sqm home. Firsttime home buyers accounted for onequarter of the purchases. They paid, on average, 18.3 million forints for a 60sqm home. The average home price in the Pest side of the capital was 279,000 forints per square metre. Prices averaged 390,000 forints per square metre on the Buda side and 439,000 in the city centre.

Prices exclude those of homes in pre-fabricated blocks of flats erected during the communist era.

It took, on average, 85 days to sell a home in Budapest that was purchased in July. It took 216 days to close sales in the west of the country.

Duna House estimated that 12,355 homes were sold in Hungary in July.

Source www.hungarymatters.hu - Visit Hungary Matters to sign-up for MTI’s twice-daily newsletter.

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