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REAL ESTATE PRICES SET TO RISE FURTHER

 

Real estate prices are set to rise in every category in the next 12 months in Hungary with the price of building plots rising the most, economic research institute GKI said based on its representative survey conducted in January. The survey shows that the price of resale homes should rise by 5.7% in the next twelve months from January, the price of new homes should be up by 5.0%, office building prices should rise by 2.3% and store facility and warehouse prices could be up by 2.0% each. GKI expects price rises for residential housing to be higher in East Hungary than previously estimated. GKI said around 150,000 households are planning on building or buying a home during the next twelve months, the highest number it has on record. GKI’s gauge of plans and prospects of real estate companies as well as households in the property market reached 9 points in Budapest, down by 2 points from the previous survey in October while the national index was up by 3 points at 11 points.