According to the survey institute’s press conference, GKI Managing Director Petz Raymund, according to research and research data, said that outside of the office sales market, mortgage loans and the real estate market itself are showing significant improvement, so this year’s expectations are yielding results.
As a result of the Family Home Creation Discount, in 2016 and in the first half of 2017, the number of home buyers or clients wishing to build a home increased significantly, by 41%. Those who are only looking for a loan search level have increased by 17%. This value represents a 7-year peak in the home loan market.
What is the expected price increase?
While real estate prices in Budapest increased significantly compared to the first quarter of the year, which means an increase from 2.5% to 6%, the expected growth in the countryside was only a minor part. In the eastern half of the country 2%, in the west 4%. The value of newly built properties for the second half of the year and next year is rising significantly, up to 8%. According to 80% of the respondents, the ministerial regulations and measures taking place in Hungary will definitely lead to a price increase. According to two-thirds of respondents, this process can be protracted, with further increases expected.
The real estate sales companies in the western part of the country believe that real estate sales have improved significantly, but generally in all regions. Specialists in the metropolitan area have been over-demanding for the past 4 months.
According to real estate survey respondents, the market for building plots in the capital really shows a significant increase above 15%, while in rural areas they expect a price increase of almost 8% from the second half of 2017.
Which region is most likely to recover?
Compared to the previous 4 months, real estate professionals expect the real significant improvement in the coming months in rural areas. The already high rates of settlements in and around Budapest will then rise or stagnate to a lesser extent. According to the opinion, this forecast is not pessimistic, as the strong growth of the real estate market of Budapest since 2016 has been accompanied by a slight decline. The real estate market prospects in the western part of the country are much better than in the less sought-after areas in the east.
According to the majority of survey participants, regulatory regulations came into force at the beginning of 2017 and the regulations are moving the buoyant and buying mood in the housing market in the right direction. 36% think it will increase, 43% think it will increase, and only 21% predict stagnation. The outlook is somewhat more mixed, but overall, everyone has a positive opinion.
Most of the credit cuts are expected to be in the capital, with the near and far-sighted prospects that the capital will be the big winner in government decisions.
Worsening outlook ahead of the office market!
Office market numbers are down from last year, demand is lower despite previous optimistic outlook, previous opinions have not yielded projected numbers The office market is developing slower than expected, but the expectations of offices and shops in the capital and its surrounding area are improving as well. on the square.
According to forecasts, the occupancy rate of retail space and office space in the cities of Budapest and surrounding cities has only slightly weakened and the market situation will continue to weaken there.
During the January market survey, representatives of 110 real estate companies and experts of nearly 1,500 companies answered the questions asked, the representative survey of the population was 1000 people.