Budapest - The real estate market is booming
In recent years the situation of the domestic real estate market was highly variable, but it seems this year the long-awaited recovery may arrive.
In April, not only the number of purchases has increased, but the demand has been higher than it was in the last years, and the bargain rates have also decreased. Most of the market participants have confirmed these data, and the Central Statistical Office reported on improving construction tendencies.
Based on the sales figures in March and April it is clear that the sales period of the properties -the number of days spent on the real estate market- has significantly diminished. The rate of decrease is astonishing regarding the fact that these are only the data of the last two months. Examining all the domestic real estate transactions, we can see that in March the average selling time was 192 days, while in April it was 12 % less, only 170 days.
In Budapest, the average improvement of the total value is 21 %, which is quite outstanding. The only negative partial data is the number of sales of the houses in Budapest; in March it was 259 days, while in April it grew up to 279 days.
From all these data we can conclude, that the number of sales can increase significantly during the summer season.
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