Hungary Real Estate Market is Expected to Grow Significantly by 2022 Owing to Rise in Demand for Dwellings and Holiday Units Construction and Surge in Tourist Arrivals: Ken Research

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Ken Research in its latest study, 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 Hotelsuggests that the demand for real estate in Hungary would continue to grow owing to expansion in online real estate companies service  portfolios, reduction in loan interest rates prevailing in the country, decline in vacancy rate for commercial real estate properties and upliftment of plaza ban on construction of shopping malls.

  • Rise in tourist arrival in the country has significantly increases the market of hotel real estate in Hungary as demand for 4-star and 5-star hotels has been increased gradually and expected to remain high in future.
  • Rapid industrialization is further expected to drive the demand for commercial real estate expansion in Hungary along with decline in vacancy rate for commercial properties.
  • Sale of real estate properties is expected to increase majorly through the online distribution channel as people in Hungary majorly prefers to purchase through C2C sites which eliminates the commission margin of middle men.

Growth in Hungary Real Estate market will be facilitated by the increase in the number of online companies, increase in prices of residential properties. Major online real estate companies which have captured the major share of market include Themovechannel.com, Primelocation.com and Zoopla.co.uk, Mybudapesthome.com and Alberlet.hu.

Hungary real estate market has been expected to grow in future as there has been introduction of government scheme for providing subsidized amount of loan for the families having three or more than three children’s on purchase of newly constructed homes to increase the demand for residential properties along with increase in population of the country.

Increase in the rate of tourism in Hungary has been the another significant factor for the significant growth of the hotel real estate market as it has been projected that gross accommodation from the hotel will increase at a CAGR of 11.9% in future as majority of the construction of 4-star and 5-star hotel has been under construction. It has been expected that retail real estate market of Hungary will grow at a significant rate as plaza ban has been uplifted from construction of shopping mall in Hungary.

For more information on the research report, refer to below link:

https://www.kenresearch.com/manufacturing-and-construction/real-estate/hungary-real-estate-market/149544-97.html

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