Price Growth in Hungary is Double of the EU Average
With its price 8% growth Hungary is still an affordable option for international investors.
The rise of house prices between the last quarter of 2016 and the first quarter of this year was 0.4 percent, however the total rise compared with last years’ numbers is 4 percent within the Eurozone. The house price index of the EU states shows a 0.7 percent rise compared with the previous quarter, in the first months of 2017 the prices show a 4.5 percent annual rise according to the latest data of Eurostat.
Among European Union member states, the highest annual increases in house prices in the first quarter of 2017 were recorded in the Czech Republic, with a measured 12.8 percent rise. Lithuania experienced a 10.2% rise, while Latvia saw a 10.1 percent rise. During the same period Italy and Croatia saw a 0.1 percent and 0.4 percent decrease in house prices respectively.
Hungary is Still Leading in Rising PricesBy early 2017 the rise of house prices was at 8 percent compared with early 2016. The quarterly rise was 1.9 percent, which is 0.4 percent higher than the difference between the previous quarter.
Hungary is still among the most affordable countries in the European Union. According to the data of Global Property Guide, the average price per square meter for a high quality, city centre apartment in Budapest is at 2375 Euros (730 thousand Forints) for a 120 square meter apartment.
Sources: portfolio.hu, Eurostat, Global Property Guide
www.globalpropertyguide.com/Europe/square-meter-prices
