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Examining nearly 20,000 private advertisers, it can be seen that for a refurbished apartment 20% more can be charged compared to a non-renovated flat. Demand justifies, as there are fewer refurbished properties on the market to choose from.
"The decline in the number of refurbished apartments is surprising, because in the first half of 2018, investments in housing construction and refurbishment were 17 percent of all domestic investment in Hungary. Nevertheless, good-quality and quality flats remain a shortage of the market, because the best-quality apartments are sold quickly" said László Balogh, leading economic expert at ingatlan.com.
The problem is the same on the rental market, according to Zsolt Pavelka, Letting Manager of Tower International. A clever face-lift or a quality renovation can result in real business advantage in case of renting out your apartment.
Read our former articles in this topic:
Interview: How the Long Term Property Rental Market Changed in Budapest
3 Tips to Stay Realistic in the Booming Budapest Rental Market
Source:
Tower International
H-1137 Budapest, Pozsonyi út 1.
Tel.: +36 1 808 9090
info@tower-investments.com • www.tower-investments.com
© 2019 Tower Investments | All rights reserved
Prices of apartments are indicative only. Pricing and availability should be confirmed with Tower International.
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