According to the analysis of real estate agency Duna House the number of foreign buyers of Hungarian property is increasing. In the 2000s mostly Western Europeans bought Hungarian apartments, but this year those from Slavic countries and from the Far East spent the most on Budapest property.
515 Foreigners Bought an Apartment Here in the 3rd Quarter of 2014
Comparing the last 3 years’ 3rd quarters it was revealed that in 2012 420 transactions were realized in which foreign buyers were involved; which constitutes 2 percent of all the transactions. In 2013 more transactions were made, and the number of the foreign buyers was also higher, but their rate was only 1.9 percent. In the 3rd quarter of 2014 the number of the foreign buyers further increased: 515 foreign buyers got a Hungarian apartment, which constitutes 1.8 percent of all the transactions.
The Rate of Foreign Tenants Is Also Increasing
Not only is the number of the foreign buyers increasing, but also that of the foreign tenants’: in the examined period their rate was 12 percent. 45 percent of them came from the EU; and spent HUF 14.8 million on an apartment on average. Slavic, mostly Russian and Ukrainian buyers spent an average HUF 23.3 million, and constituted 30 percent of all buyers. The Far Eastern buyers spent the most on an apartment, HUF 26.7 million on average, and constituted 15 percent of the market.
The 6th District is the Most Popular
77 percent of the foreign buyers bought an apartment in Budapest, mostly in the city center. The HUF 14-million-worth apartments in the 6th district were the most popular. Those in county seats were also in demand, but those in smaller cities weren’t so popular. Most of the buyers (42 percent) came from the EU, 29 percent from the Middle East, 20 percent from the Far East and 10 percent from Slavic countries. They spent a monthly HUF 78-110 thousand on rent on average, and most of them chose the 5th, the 6th and the 7th district.
Source:
http://www.resourceinfo.hu/hu/cikk/lakas/36814.html
