Here is the end of the 5% new residential property VAT. The question is how the change will affect the Hungarian housing market?
The change is only noticeable in the decrease of traffic so far. Real estate prices kept increasing through 2019 by a two-digit number, similar to the previous years.
Outstandingly renovated properties aren’t just more beautiful than ever, they worth more as well. They are perfect for investments.
There are numerous reasons behind the high apartment prices, included the return of 27% VAT, the dramatic labor shortage and the Energy Efficiency Directive.
According to the latest, quarterly survey of GKI Economic Research Co., property prices might stop rising after a long time, and there won’t be a significant increase in the next 12 months. However, the office market is still going strong.
The average price/sqm is 885 thousands HUF in Budapest. It seems that the prices are stepping over the 1 Million HUF/sqm limit
Hotels, shopping malls, housing estates, office buildings, warehouses. Huge building developments in progress across the whole Budapest.
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