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August 9th, 2018

How Much Chance do You Have for a Bargain When Buying a Real Estate in Hungary?

The simple answer is that you do have the possibility to make a deal to a good the price of the real estate. Since real estate prices are running high, in many cases houses or apartments are offered for an amount beyond the realities, so it gives us the opportunity to begin to shape the price. However, bargaining is not always so easy.

Basically, depending on the extent of the area and the amount of overpricing, or the type of property, it is possible to have a more favorable price from the owner. Balla Real Estate company estimates that buyers want to cut prices by up to 20 percent, but that's not so much of a reality.

Currently, the bargain in a good case may reach 5 percent, for example in the 13th district of Budapest. But the situation is similar, for example, in the 4th district, where only a few hundred thousand forints reduction can be made, especially in the case of panel apartments.

However, in the other districts, the rate of discount available for bargaining is below 5 percent, most often the rate of reduction is 3 to 5 percent after the successful negotiation. The same is true for the agglomeration areas.

Interestingly, for newly built homes, there is the smallest chance for bargaining, owners sell their apartments at almost fixed prices. It can be a great success if you can get something into the price, such as air conditioning, a parking plot.

All in all, you do have the chance to bargain, but in most of the cases, the success may stay below expectations. The market's activity has not diminished in recent months, there are plenty of candidates for an apartment or house, so owners are rarely forced into a situation that would justify a large price reduction.


Interested in buying a property in Budapest?

Interested in buying a property in Budapest?

Contact us to get a tailor made investment advice from the Budapest market specialist.


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