Euphoria on home market: demand and prices both may rise further

The GKI real estate index rose to 4 points in July 2018, while the Budapest index stood at 5 points. The index has increased by nearly 2 points and the Budapest index has gone up by 3 points, compared to the previous survey conducted in April. Both indices have increased by 4 points, compared to one year earlier and reached their historical peaks indicating that real estate market players have never been so optimistic during earlier surveys.

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The capital’s optimism strengthened, non-Budapest market has not changed

Outlooks on the residential and construction site markets became more favourable compared to the previous survey a quarter ago. The improvement was particularly significant in Budapest agglomeration. There was no meaningful change in non-Budapest market, these expectations still reflects some kind of optimism.

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Non-Budapest market drives growth alone

The GKI real estate indices for Budapest and Hungary stood at -1 and 1 point in January 2018, respectively. The Budapest index has dropped within the error margin, while the index for the whole country has increased 1 point, compared to the previous survey completed in October. Compared to one year earlier, the index in the capital has decreased 4 points and it has dropped 1 point for the whole country. The real estate outlook in Budapest peaked five quarters ago and a very modest decline is experienced since then. The national index reached its highest point a year ago and the present one is close to it.

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Stable property market outlook with a price bubble about to burst

The GKI real estate indices for Budapest and Hungary stood at -1 and 0 points in October 2017, respectively. Compared to the previous quarter, the index in the capital has dropped by 2 points but the index for the whole country has not changed. The Budapest index has decreased by 4 points over a year and the country index has increased by 2 points. The peak of the property market outlook is over for about a year but the present outlook is still positive.

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Property market outlook is over its peak

In July, the GKI real estate indices for Budapest and Hungary stood at 1 and 0 points respectively. Both figures dropped slightly by 1 point, compared to the previous survey. Both indices went up 2 points, compared to the survey made one year earlier. The property market outlook improved only in the office space market, from the previous quarter. On the other hand, no significant change occurred in the other three segments. Generally, the property market outlook is slightly over its peak but it is still on the sunny side.

You can download the report from here.

You can download the index values from here.