Based on our previous article, we conducted a survey of changes in the most frequently searched properties’ market compared to previous years.
According to Central Home statistics, most people buy properties between 25 and 32 million forints, and most of the inquiry comes from 25 to 35 million. This data is almost the same as one of Otthontérkép’s published results. This is the widest layer, but also a large section of the apartments are around 50 million forints, and there is a narrow layer that needs to be looked at quite differently – exclusive properties.
Central Home made the analysis based on sales data in its own database. The comparison is based on the survey of the franchise network, however, it is not based on the last one but the last two years, and it’s analysis focuses specifically on downtown real estate. So, the actual 2017 real estate market has been compared to 2015 to assess changes.
In our previous article, you can read about the changes that affect property worth between 25 and 35 million forints. Briefly summing up the trends, in only two years, the 25-35 million forint properties lost half a room in place, or for the same square meter you can only get a flat that is in a bad state in this price range.
In addition to the 25-35 million forint homes for sale, there is also a fairly high demand for downtown real estates around 50 million forints. The past 2 years, the prices have risen so much, that for the same price in this category you can get a flat with a room less compared to 2 years ago. For example, let’s say we bought a 3-room apartment for $ 50 million in 2015 (of course it depends on the condition and the exact location) but today, sticking to the same conditions, we could only buy a 2-room property for the same amount of money.
In the last category under examination, the exclusive properties, the purchase price is 20% higher than in the previous two years. This is a fairly small segment of the real estate market, so it is not worth comparing the place, as the value of the properties is not necessarily determined by its size.. The price of an exclusive home is influenced by its design, the use of materials, and individual pieces of art also have a significant value-enhancing effect. Therefore, in this category we can generally say that we have to pay one fifth more than for an exclusive property in 2015, regardless of whether it’s a 40 million or 140 million flat or house.
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