Price of apartment in block of flats plummets in Western Hungary
2010-02-04
Price of apartments in block of flat fell by 10-15% in Gyor and by 20% in Sopron, the two largest cities in Western Hungary, compared to the prices in December 2008. According to the local newspaper Kisalfold the price of such apartment is about HUF 130,000-140,000 (€470-510) per m² in the county capitals and about HUF 115,000 (€440) per m² in settlements near the Austrian border. Prices are falling due to oversupply in this region, as households with medium income are not engaged in real estate transactions since the onset of the financial crisis.
Price of other residential real estate is down in the region by 5-10% compared to pre-crisis level.
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