Weak Summer on the Hungarian Property Market

Property market turnover in August was weaker than the usual, producing the weakest summer season of the past four years. Because of a strong year start, the complete data of the first eight months shows no major decrease when compared to previous years, according to the latest Duna House Barometer report.
On the Buda side of the capital, 26% of property market transactions fell in the HUF 900.000 and above per square meter price range, accounting for a 19% expansion since last August. In Pest, transaction volume in the same price range reached 14%, presenting a 10% increase since last year. In addition, in Buda, 24% of transactions were realized for over HUF 70 Million .
Outside Budapest, regionally, the typical square meter price is HUF 300-350.000, depending on property type. In Budapest, on the other hand, square meter price in most cases exceeds HUF 500.000, with the most frequented locations reaching even HUF one million .
There are no outstanding changes as far as time need for sale is concerned; in most cases, there is minimal decrease, with only western counties and some Pest districts presenting minor increase.