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May 28th, 2018

New or Newly Refurbished Apartments are the Absolute Favourites

Over the past 10 years, the number of new homes has increased considerably, while the proportion of renovated and refurbished homes was 44 percent, and medium or refurbished apartments accounted for only 20 percent of the apartments for sale. Thus, if someone has not spent the energy for renovation over the past 10 years, he has come to a serious competitive disadvantage. Demand is increasingly turning to good housing, so it is worth thinking about renovating - however, it is worth considering it right because today's construction costs make it much more expensive and time-consuming for a refurbishment.

Between 2008 and 2017, according to real estate portal (, despite the fact that many apartments have undergone renovations, even more modernization would be possible. In many cases, paintings were made, but blurring, refinement, or energy-enhancement were hardly done in just a quarter of the apartments.

On a national average, 44 percent of the homes in the supply market were advertised as in good condition, 20 percent as novelties, 11 percent in medium terms, 7-8 percent renewed. In Budapest, the proportion of good-quality housing is 49 percent.

These ratios in figures mean that the number of homes waiting for new owners that are in the worse state or are to be refurbished can be up to a million.

However, it is worth paying attention to the fact that not all people mean the same under "good" state, or "novel", etc. designations. Many times, sellers positively characterize properties, attracting more customers, and even distorting the value judgment.

It is clear however that the demand for good-quality housing is much higher, and therefore it is worth investing in home improvement before selling. At the same time, given the current costs and overload in the construction industry, it is worth assessing how much resources and time it takes to replenish it and whether it will cost its sales.



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