Property market outlook over its peak

In July, the GKI real estate indices for Budapest and Hungary stood at 1 and 0 points respectively. Both figures dropped slightly by one point, compared to the previous survey. Both indices went up 2 points, compared to the survey made one year earlier.

According to July figures by by the GKI Economic Research Institute. the property market outlook improved only in the office space market, from the previous quarter. On the other hand, no significant change occurred in the other three segments. Generally, the property market outlook is slightly over its peak but it is still on the sunny side.

The home market indices of Budapest and Hungary of the present survey, which reflect expectations of households and property agencies, moved in opposite directions, compared to their level in April. The Budapest index went up 3 points and the national index dropped 1 points.

Comparing to one year earlier, the Budapest index decreased 3 points and the national one fell 7 points. The national home market index hit a low over the last seven quarters. Responding companies saw an improving outlook for the coming 12 months in the Budapest region and in West Hungary and a worsening outlook in East Hungary.

In Budapest, an improvement was experienced in almost all areas. In East Hungary, only concrete block homes did not suffer from a worsening outlook. In West Hungary, only family homes faced an improving outlook.