Housing market is over the fright caused by the epidemic, GKI residential indices show a little upturn – GKI residential market survey results for July 2020

The outlooks of housing companies has been deteriorating since mid-2019. In April, the epidemic exacerbated the negative process. According to the results of the joint survey of GKI and Masterplast conducted in July, there was some rebound, a slight but positive correction both in the national average and in the capital compared to the previous quarter. Housing market players, especially in the capital, are beyond the shock of the epidemic and look a little more optimistic about the future, but their prospects are still not really optimistic in annual terms. At the same time, the market for home renovations picked up during the epidemic, and the turnover of building material stores increased significantly year-on-year. In the next year, the price of flats in Budapest may fall by an average of 5% and in the countryside by 8-13%.

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