Based on this year’s first quarter data, the number of homes sold increased by 36 percent, compared to a 23 percent decline a year earlier. The price of second-hand residential property rose by 5.3 percent and that of new residential property by 4.6 percent compared to the previous quarter, according to the KSH.
The pick-up in interest in residential property for sale may reflect the fact that the fall in mortgage rates has stopped in recent months, with some banks even raising interest rates. This has activated buyers who had hoped for more favourable conditions. As house prices have also started to rise this year, this has attracted even more buyers to the market who had previously been playing the waiting game.
up 13 % compared to June in demand for residential property, houses and flats for sale. Az eladó lakóingatlanokra érkező több mint 260 ezer érdeklődés tavaly júliushoz képest 10 százalékos növekedést jelent.
The number of advertisements posted in July, however, fell slightly in line with seasonal trends. As a result, homebuyers have started to absorb supply from the market.
The current data clearly show an increase in demand, a rise in prices and a shortening of selling times compared to last year.
Data for residential properties advertised for less than 365 days and marked as sold by owners show that the national average time to sell in the second quarter of this year fell to 94 days in the second quarter, down from 106 days in the first three months of 2024.
For houses in Budapest, the time to sell has fallen to 98 days from 134 days at the beginning of the year, a reduction of more than a month. And homes in the capital found a buyer in 74 days in the second quarter, compared to 88 days in the first three months of the year. In Budapest, flats with flats in terraced houses were the fastest to sell in the second quarter of this year, taking 65 days on average.
The situation in the duchy towns is similar. Houses and flats there sold in 124 and 84 days respectively between the beginning of April and the end of June, compared to 133 and 96 days a quarter earlier. In the duchies, it was also in the duchies where owners were able to sell their flats in panels the fastest. In the second quarter, they found buyers in an average of 71 days, according to ingatlan.com.
Data for the beginning of the third quarter in July suggest that sales are continuing to fall, i.e. the recovery in the housing market could continue. Thanks to the recovery a slight increase in prices.
(source: ingatlan.com)
