Real estate haven't been this expensive for 5 yearsSeptember 28th, 2015
Prices on the real estate market grew by 9, nominal prices by 8.2 percent on the real estate market in the first quarter of the year according to Világgazdaság.
Data is based on the statistics published by the FHB Housing Prices Index and also all the statistics published in the given period by the National Tax and Customs Administration of Hungary (NTCA).
The analysis concludes that prices were on approximately the same level as now in 2005 and in late 2010, early 2011. Nominal prices grew almost by 4 percent compared to the last quarter of 2014.
Data shows that the current average prices on the market are only around 10 percent lower than they were in the period directly before the financial crisis, which means recovery is almost complete. When the market was in its worst shape after the crisis hit the country prices were more than 21 percent lower than that. In real terms prices are now are on the same level than they were in 2000 and late 2011, early 2012.