Budapest housing market: excessive prices and a possible correction

Overpricing by 20 percent is not uncommon

Overpricing difficulties: A 5-10 percent overpricing may remain acceptable in the real estate market. Yet, for some listings, the price difference can be as much as 20 percent, making it significantly more difficult to sell the property. In South West, for example, the price per square metre of a house to be renovated starts at HUF 420,000, while a renovated flat in good condition can go up to HUF 1.2 million.

Patient trends: Mária Rencsevics predicts that the current market demand may continue until March, but then a possible slowdown may occur, as a decline in solvent demand is expected, Világgazdaságban.

Making the perfect housing advertisement

• Pricing: Realistic market pricing is the key to success. Overpriced properties will attract few buyers, while competitively priced ones will attract buyers.
• Advertisement text: The advertisement should be concise, to the point and include all the relevant information about the condition of the property, its layout, energy features and the area. Emotional or misleading statements should be avoided.
• Accurate presentation: The advertisement should accurately reflect the actual condition of the property. Expert real estate agents can help you fine-tune descriptions and optimise pricing.
• Visualization: Images and videos are key. Drone footage, video tours, and 3D floor plans allow buyers to better envision their future home.
• Home Showings: A tidy, tastefully decorated home makes a property more attractive, reducing the chances of potential bargains. And energy-efficient solutions can further increase value as sustainability becomes increasingly important to buyers.

Source: haszon.hu