The state of the Hungarian real estate market
The Hungarian real estate market is one of the fastest-developing markets in Europe. Due to its economic growth and low interest rates, property prices in Hungary have increased by 28 percent in five years. Investors from all over the world see opportunity in this country and invest their money for further development.
Hungarian real estate market is attractive for investors
Hungary is a safe place to invest. Hungary has been growing fast, and its economy is stable. The country has been one of the fastest growing in Europe over the past decade. The overall economy remains fundamentally strong. Hungary’s economy grew by a robust 7.1% during 2021, following a 5% contraction in 2020 due to the Covid-19 pandemic.
With such a stable economy and low unemployment rate, there are plenty of opportunities for investors looking to get involved in real estate development projects across Hungary as well as other parts of Eastern Europe like Romania or Bulgaria where prices are lower but still provide good ROI potential. Budapest remains to be the favorite destination among foreign investors, accounting for more than half of foreign property demand.
The average price of Hungarian properties has increased by 28% in the last five years. The average price of a Hungarian new home is €107.862 and used homes are €55.931.
Low interest rates and tax exemptions are the reasons for this development.
Low interest rates and tax exemptions are the reasons for this development. Interest rates have been low for a long time, encouraging people to invest in real estate. Moreover, since 2014 there has been no tax on rental income earned by individuals who rent out their properties for less than six months per year.
Investors from all over the world see opportunity in Hungary.
Hungary is a safe country with an excellent standard of living. It’s also one of the fastest-growing European economies, with its GDP growing by 4% in 2017 and expected to grow by 3.6% this year. This means that there are many opportunities to invest in real estate, including new and second-hand homes, commercial properties and even garages.
The most desirable areas are Budapest city centre as well as Pest county suburbs such as Budaörs or Kispest which offer quick access to public transport links such as trams or buses but still allow residents easy access into central Budapest via metro lines 1 & 2 respectively (these run directly underneath them).
The demand for residential properties is higher than supply.
The demand for residential properties is higher than supply. This is why there are so many investors interested in investing in Hungarian real estate.
The country’s economy is growing at a rapid pace, and this has led to an increase in demand for both commercial and residential properties. The lack of available land has made it difficult to meet this growing need, which explains why there are few options available on the market right now.
In conclusion, we can say that the future of the Hungarian real estate market is looking bright. The demand for properties is increasing and investors from all over the world see opportunity here. It’s time to invest in Hungarian properties if you want to make money!