Property market Analyses

Otthon Centrum Residential Market Monitor 2007/2

In spite of the fluctuations in the turnover, a measurable decrease since last year in demand for housing loans and an increasing cautiousness of buyers and investors (or: partially because of these!), there are several signs to show that the housing market is facing a revival again. Also, the initiatives for changes in the tax law to be passed this autumn are not likely to have a significant effect on the market as a whole.
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Otthon Centrum Residential Market Monitor 2007/1

Last year’s negative records in the construction of residential property, the economic austerity measures and the increasing energy prices, uncertainty due to the property tax to be introduced next year and the drop in the stock of new housing loans in March should give reasons for pessimism regarding the future. Nevertheless, the residential market made a good start in 2007; for the time being, no fall is experienced in the demand or in the investors’ appetite for construction.
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Otthon Centrum Residential Market Monitor 2006/2

We experience a reduction in construction volumes, having reached by now the capital city as well, and the possibility of demand contraction effect of the austerity measures, on the one hand, and a growing interest towards property investments (fuelled by the introduction of the interest tax and an expected price-rising effect of increased investor costs), constant demand, due to a tone-down in seasonality, and enhanced need for quality, instead of mass character projects offered, on the other. These are the factors to shape the often ambivalent judgments of different players on market processes.
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Otthon Centrum Residential Market Monitor 2006/1

NIn the trends observed since already two years on the housing market, there was no break on the turn of 2005/2006. In terms of investors’ activity, the duality of Budapest vs. country keeps persisting and on the offered market, the buyers clearly are in an advantageous position. With the acceleration of the competition of banks and investors, for the majority of the society, the purchase of a home is more and more a question of making up their mind.
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Otthon centrum residential market monitor 2005/2

The adaptation to the changing market trends continued in the first half of 2005 after the shock of 2004. The housing market’s segmentation is going deeper. Thus the evaluation of its performance gets more and more difficult. Widening credit options, soaring foreign exchange credits and new constructions starting day-to-day in the capital city stay in contrast to mass-market oversupply, slackening rental market and slowly moving market of building plots suitable for family houses.
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Otthon Centrum Residental Market Monitor 2005/1

The year of 2004 can be definitely regarded as a turning point of trends in the history of the Hungarian housing market. According to different estimations the turnover of the residential property market has decreased by 30-50 per cent owing to the effects of the austerity measures concerning housing loans which have been in force since December 2003. The year of 2004 was spent in the spirit of adaptation to the changing market conditions by the participiants of the real estate market (developers, banks, real estate agencies).
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