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ESTATE AGENTS EXPECT VALUE OF EXISTING PROPERTIES TO DIP

 

Most estate agents in a recent survey said they expect the price of existing properties to fall, according to a report released on Tuesday. In the quarterly survey conducted jointly by economic research firm GKI and Masterplast in November, 48% of 91 estate agents said price of properties in Budapest would stagnate and 33 said they would drop by 1%, while only 19% said they expect prices to increase. Property prices in western parts of the country could decrease by 4% and in the east by as much as 6%, the report said. Nationwide, 33% of agents expect the price of new builds will increase while two-thirds see prices stagnating. New builds in Budapest are seen as rising by 5% while increasing by 3% elsewhere in the country. Rents are likely to increase by 4% in Budapest and by 2% in western parts, while they could drop by 6% in the eastern regions, the survey found.