Housing price increases expected in the sales market

Happy start to January

Mónika Somlyai, a real estate sales and loan officer in Kisőrös, reports that January is usually a quieter month for the property market. Fewer homes find owners at this time of year, as both sellers and buyers wait to see how the market changes. Many homeowners are planning price rises in the wake of the end-of-year news, although rural properties in the kiskőrös area, which are still being renovated, are still difficult to sell at good prices.

Wall Housing Market

Family Housing Subsidy (CSOK) has a beneficial effect on real estate turnover in certain settlements where public safety is good and the settlements are developable. However, the changes that came into force in January 2024 have narrowed the range of properties that can be sought. The highest subsidy is for families with three children, but to qualify for it, a property must have a minimum of 90 square metres of internal living space.

Building Needs and Challenges

Since last year, there has been an increase in demand for well-maintained or renovated properties, while there is less interest in properties requiring major renovation. The price boom is more likely to be for new build, high quality, energy efficient properties. In Kiskőrös, demand for housing under construction is strong, despite the fact that prices per square metre are approaching the level in Kecskemét. They are often snapped up from the drawing board.

The Impact of Kecskemét on the Local Market

Csaba Óvári, a partner at Duna House's Kecskemét office, said that the real estate market in Bács-Kiskun county is strongly influenced by Kecskemét and its surroundings. The real estate market has already priced in the opportunities arising from the expansion of the Mercedes factory and government subsidies, although the extent of further price increases is still uncertain. The 2023 year-end foreclosure has been mainly on the sell-side, so the number of homes available on the market has fallen significantly. Buyers are more cautious about prices, and no substantial change has been seen since the beginning of the year.

Property Types and Financial Opportunities

Buyers continue to look mainly for newer-build or renovated properties, with limited demand for homes to be renovated. The market is hovering around the 40-100 million HUF price range, and the continued interest in loans, where interest rates of 6-7% are available, is also important. Demand for baby grants has declined, but Csok+ grants remain popular.

State of New Housing Construction

There is little new housing construction in Kecskemét, despite the demand for projects with hundreds of apartments. Ongoing projects include the LIVE residential complex and Trafalgar Square. With a few exceptions, the price per square metre of new apartments is around HUF 1 to 1.3 million. For example, prices per square metre in the Marina II residential complex are expected to be lower. Prices per square metre of old prefabricated and brick apartments are also on an upward trend.

Source: www.baon.hu