Rise in the number of tourist arrival in the country, expansion of online companies by offering promotional advertisement of dwellings and commercial properties, increase in portfolio of online companies, upliftment of the plaza ban will be the key factors driving growth in Hungary Real Estate Market.
The report titled “Hungary Real Estate Market Outlook to 2022 – by Residential (Dwellings Constructed by Regions, by Builders Type, Holiday Units Constructed by region, Dwellings Leased by Regions, Dwellings Sold by Regions), by Commercial, Retail and Hotel” by Ken Research suggests a growth at a CAGR of 7.6% in terms of residential construction in volume generated through Hungary real estate market during the forecast period.
Hungary Real Estate has witnessed a new trend of growing sales from online property portals. Online real estate market in Hungary is increasing rapidly as major online companies such as Themovechannel.com, Primelocation.com and Zoopla.co.uk, Mybudapesthome.com, Alberlet.hu and many others covers maximum share of online real estate market sales. Gamut of services offered by online real estate companies including availability of knowledge and history about used properties through company website, offering various properties in one single roof, and charging of less percentage of commission have driven the business growth. In Hungary, people are demanding for more number of residential dwelling constructions due to low interest rates prevailing in the country. Significant boom in the house prices has led to increase in demand for construction of more number of residential dwellings and holiday units in Hungary. Government offering social incentive for the people to increase their family size by providing loan at subsidized rates has also resulted in rise in real estate construction in Hungary.
Increase in office stock in Hungary with decline in vacancy rate has led to significant demand of commercial real estate construction in Hungary. Budapest has been the major commercial hub in Hungary leading to significant high property rates in that region due to maximum demand of the population to live in that region has gradually increased with establishment of major offices. Rent in retail properties has increased significantly along with increase in demand for high street market. Upliftment of plaza ban has supported and has led to increase in construction of shopping malls and centres in Hungary.
For more information on the research report, refer to below link:
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Ankur Gupta, Head Marketing & Communications