Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Quarter of homebuyers bought their 1st home in 2021

Quarter of homebuyers bought their 1st home in 2021

While the share of first-time homebuyers has increased significantly since 2018, thanks to various home-buying incentives, this year the upward trend has slowed. According to a year-end analysis by Duna House, 25% of real estate market activity is attributable to first-time homebuyers, who are typically younger than 30 years old and have chosen properties below HUF 30 million.
Approximately 91.3% of Hungarians live in owner-occupied property. This ideal is embedded in Hungary's housing culture, with the most important milestone being the purchase of a first home - but potential buyers reach this point at different ages depending on their job, status, and family background.

"In our experience, the majority of first-time homebuyers, 56%, are under 30 years old, and many of them receive parental support," said Károly Benedikt, head of PR and analysis at Duna House. "Young people are typically looking for modern apartments with smaller floor space, so the continued emergence of new-build apartments could improve this ratio, which could be further boosted by the state's housing subsidy initiatives."

In 2018, the emergence of government subsidies has provided a new boost and affordable options for potential buyers. The upward trend was tempered, however, by the emergence of the pandemic, making the purchase of a first home the joint-second top motivation month-on-month among homebuyers after investment (29%), sharing the second place with moving to a larger property (25%).

Based on this year's sales data from Duna House, the share of first-time homebuyers in the capital was around 27%, while in the countryside the share of interest was 23%.

For the country as a whole, buyers paid an average of HUF 26.8 million for their first home.

In Budapest, they were looking for an average apartment of 55-65 sqm and paid nearly HUF 696,000 per square metre, which corresponded to HUF 37 mln.

In the countryside, first-time buyers were in a more favorable position, paying an average price of only HUF 339,000 per sqm, which represents an average price of HUF 23 mln, but they could choose a property of up to 65-80 sqm.

Overall, the majority of young buyers (68.5%) signed a contract for their first home for a maximum of HUF 30 mln, while almost a quarter of them were willing to pay between HUF 30 and 50 mln. The most expensive first home sold within the Duna House network was a 158-sqm house in Óbuda with a price tag of HUF 148 million.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Putin Celebrates ‘Unprecedentedly High’ Ties with China as Gazprom Seals Power of Siberia-2 Deal
China Unveils New Weapons in Grand Military Parade as Xi Hosts Putin and Kim
Rapper Cardi B Cleared of Liability in Los Angeles Civil Assault Trial
Google Avoids Break-Up in U.S. Antitrust Case as Stocks Rise
Couple celebrates 80th wedding anniversary at assisted living facility in Lancaster
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
The White House on LinkedIn Has Changed Their Profile Picture to Donald Trump
"Insulted the Prophet Muhammad": Woman Burned Alive by Angry Mob in Niger State, Nigeria
Trump Responds to Death Rumors – Announces 'Missile City'
Druzhba Pipeline Incident Sparks Geopolitical Tensions
Cost of Opposition Leader Péter Magyar's Economic Plan Revealed
Germany in Turmoil: Ukrainian Teenage Girl Pushed to Death by Illegal Iraqi Migrant
United Krack down on human rights: Graham Linehan Arrested at Heathrow Over Three X Posts, Hospitalised, Released on Bail with Posting Ban
Asian and Middle Eastern Investors Avoid US Markets
Ray Dalio Warns of US Shift to Autocracy
Eurozone Inflation Rises to 2.1% in August
Russia and China Sign New Gas Pipeline Deal
Von der Leyen's Plane Hit by Suspected Russian GPS Interference in an Incident Believed to Be Caused by Russia or by Pro-Peace or by Anti-Corruption European Activists
China's Robotics Industry Fuels Export Surge
Suntory Chairman Resigns After Police Probe
Gold Price Hits New All-Time Record
UK Fintechs Explore Buying US Banks
Greece Suspends 5% of Schools as Birth Rate Drops
Apollo to Launch $5 Billion Sports Investment Vehicle
Bolsonaro Trial Nears Close Amid US-Brazil Tension
European Banks Push for Lower Cross-Border Barriers
Poland's Offshore Wind Sector Attracts Investors
Budapest Central European Fashion Week Kicks Off
U.S. Celebrates Labor Day
Hungarian National Team Captain Scores Epic Goal
EU is getting aggressive: Four AfD Candidates Die Unexpectedly Ahead of North Rhine-Westphalia Local Elections
Japanese Customer Sways from VW to BYD after “Unbelievable” Test Drive amid Dealership Expansion
Nestlé Removes CEO Laurent Freixe Following Undisclosed Relationship with Subordinate
Pickles are the latest craze among Generation Z in the United States.
Giuliani Seriously Injured in Accident – Trump to Award Him the Presidential Medal of Freedom
Deadline Day Delivers Record £125m Isak Move and Donnarumma to City
Nvidia Reveals: Two Mystery Customers Account for About 40% of Revenue
Woody Allen: "I Would Be Happy to Direct Trump Again in a Film"
Lula and Putin Hold Strategic BRICS Discussions Ahead of Trump–Putin Summit
White House Eyes Budapest for Peace Talks
Cave Diving Beneath the Streets of Budapest
Another American Restaurant Chain Opens in Budapest
Hungarian Opposition Politician Supports Ukrainian Commander
Opposition Leader Threatens Media Outlets
American Airlines Adds New Flights to Budapest
F1 Hungarian Grand Prix Wraps Up
WhatsApp is rolling out a feature that looks a lot like Telegram.
U.S. Trade Representative says Washington still negotiating trade deals after court rules tariffs illegal
Von der Leyen says Europe drawing up 'precise' plans to send troops to Ukraine
Kremlin accuses Europe of hindering Trump’s peace efforts in Ukraine
×