Prices of “panel” apartments fell 10-15% in the West Hungary town of Győr and 20% in Sopron compared to 2008, reports napiingatlan.hu.
In the county seat of Győr, the price of one square meter is between Ft 130,000 and Ft 140,000, while in Sopron, a town close to the Austrian border, one square meter costs between Ft 115,000 and Ft 135,000. The reason for the oversupply is that people with minimal or no own resources are buying “panel” flats, and this is the same group which typically stopped purchasing as a result of the crisis.
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