It can take up to a year and a half to sell an inherited property, according to the Duna House Barometer, with 17-18% of inherited properties in Budapest and the countryside sold in July, down from the same period last year.
In rural areas, 25% of sellers put their inherited property up for sale, with a wider spread in Budapest – 13-26% – but fewer people sold their inherited property in the capital than in the countryside. The main reason for this is that the value of homes in Budapest is much higher, making them an ideal long-term investment opportunity.
The data show that while the average price received by heirs in the capital was HUF 37 million, while in the rest of the country, the average price of inherited properties, usually larger in size, was HUF 18.5 million.
Usually, in Budapest, heirs tend to look for a tenant rather than selling the property. In the capital, it is also common for the heir or his/her children or grandchildren to move into the property.
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