Budapest Property Market Index inches down

Tweet
Comment

The Budapest Property Market Index, a measure of supply and demand on the market as well as market players’ plans and expectations compiled by economic think tank GKI and professional journal Ingatlan es Befektetes, fell to -29.2 points in January from -28.6 points in October, GKI head Laszlo Akar said on Wednesday.

The index was up from a historical low of -33.4 points in July 2009. The index peaked at -10 points in July 2008.

The office market sub-index improved from -40 points to -23 points in the past two quarters, while the home sub-index inched up from -50 points to -48 points.

Home prices in the capital fell 8pc in 2009 and are expected to drop another 1-3pc in 2010. Outside of the capital, home prices fell 11pc in 2009 and are seen dropping another 3-5pc in 2010.

GKI estimates 27,000 homes were built in Hungary in 2009 and about 20,000 will be built in 2010.

Comments

The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.

Comments are closed.