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Home Prices Rising Faster Than Wages

13.09.2017
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Home Prices Rising Faster Than Wages
The average price of a 75m2 home in Hungary was slightly above Ft 20 million in the second quarter, property agency Otthon Térkép calculates.

This is the equivalent of 7.8 years of income at the average wage, up from 6.8 years in 2014.

Home prices have gone up by 40% since then, but wages have risen by only 20%, the agency underlined.

The number of years required to buy a home is not necessarily highest in Hungary’s poorest regions, Napi observes.

The period is four to six years in the relatively poor Nógrád and Tolna counties, but 12 years in Budapest. In Veszprém county the required time is 13.5 years.

There are some exceptions, where wages have risen faster than home prices. In Bács-Kiskun county, for example, the required working period has fallen from 10.6 years in 2015 to 9.1 years today.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.





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