House prices

Old Jun 9th 2019, 2:07 pm
  #1  
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Default House prices

Article from a couple of months ago -

https://dailynewshungary.com/budapes...-price-growth/

How are house prices fairing outside of Budapest?

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Old Jun 10th 2019, 6:30 am
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Default Re: House prices

In our village there has been a large number of properties sold in the last year. There are quite a few on the market and many of them don't stay for sale for long. The prices have increased considerably too. Unfortunately, most of the houses that are being bought up by Budapesters as holiday homes which will have a long term negative effect on the local economy as the permanent population declines.
One of our friends are selling their house. They bought it 4 years ago for about 9m, spent more than 4m renovating it and it's now for sale at 20m. We thought that they over paid in the first instance but they were happy at the time.
In Eger the cost of property has also increased. A few years ago a flat in a high rise block could be had for 7 or 8m, now they're 12m upwards. Family houses have also followed suit. 30m forint houses used to be at the top end of the market, now they're the norm.
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Old Jun 10th 2019, 8:02 am
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Default Re: House prices

I did hear a statistic about Budapest that every 1/3 property sale was to a foreigner and this was one of the main drivers to the prices. If the Budapest prices go up then this will have a knock on effect to the surrounding areas which in turn affect their outboard areas.

I also heard that the government grants to families is helping to both fuel the property prices and to give the building industry more work that it can cope with. Building materials have also increased in price way beyond inflation.

In my experience whenever there is a grant in any sector this quickly skews the prices in that sector and prices rise according to the amount of the grants. This has 2 issues, the first is for those unable to get the grants are priced out of the market and the second is when the grants stop the market place is left in a mess.
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Old Jun 10th 2019, 8:08 am
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I also read somewhere that there has also been a lot of foreign investment in the Balaton area.
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Old Jun 11th 2019, 11:32 am
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Default Re: House prices

Originally Posted by Expatrick View Post
I also read somewhere that there has also been a lot of foreign investment in the Balaton area.
Interesting, we live on the north side around Fured way and there are alot of new apartments being built and they are not cheap. I asked my Hungarian friends who can afford to buy these apartments and they told me that there are Hungarians who have a lot of spare cash and they will buy them! I was surprised but they appear to being bought.
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Old Jun 13th 2019, 7:34 am
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Default Re: House prices

The housing market here in my small out of the way town had been totally stagnant for many years, this certainly changed a few months ago with many major house renovations and quite a number of new builds popping up.
Prices have definitely risen also, but it is hard to get an exact fix on figures since it is a common policy to sell a property for a lower price on the books and take the difference as a cash backhander.

Likewise car ownership has risen steeply, one can only assume EU membership has been good for the Hungarian economy.
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Old Sep 30th 2019, 11:04 am
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Default Re: House prices

I've spotted a small three room house in the village where my wife's family live. As I haven't sold our UK house yet my cash options are limited. Also I need to keep something back for any emergency repairs and also if we can't sell our UK house may have to spend a significant amount to make it more sellable! What's the most I could reduce the price by?
Something covered here before is security! I honestly don't know how often both of us or one of us would be flying or driving out so the house will be unoccupied. The wife's parents are too old to venture from their property and my sister-in-law's family occasionally have busy periods when they are not likely to have the time to check it. We have local friends but am unsure whether to ask them especially as one of them sometimes has to travel quite some distance, sometimes two hours by train, to get to her work location. One side is forested, three sides view to the village and surrounding area. The road to the house is a short track road!
It looks pretty good condition with boiler in kitchen, CH and two wood burners in two rooms.
I'm in two minds go for it or be cautious!
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Old Sep 30th 2019, 6:37 pm
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Default Re: House prices

For security the key is to have your house less attractive to the burglars than your neighbours. You can get gizzmos that will randomly turn on lights around the house whilst you are out and you can have external lights and cctv which also act as a deterrent. If you always park the car out of sight or in the garage the bad boys don't know when you are away. Most burglaries are opportunist events rather than targeted so making it look like you are at home helps. Another thing that matters is the local statistics, villages with low incidences of burglaries/theft are a good bet whereas those with higher theft - well expect more problems. The local council will have the police statistics for reported crime for previous years which should be public information. (In our village our local PC comes to the annual village meeting and gives a report of issues/crime for the previous year). IMO it is unreasonable to expect friends/neighbours to do anything more than keep a casual note of your house i.e tell them if you are away so that casual observation might detect something rather than 'look after my house whilst I'm away'.

With regard to selling the UK house, talk to the estate agent regarding pricing for a quick sale. IMO it doesn't usually make sense spending money to make a house more attractive (beyond a fresh coat of paint). IMO better to reduce the price and market the house as 'needs a new kitchen so the price is lower to account for this'. (And make sure the estate agent gives this message) What ever you do won't be liked by at least half of those viewing ! Kerb appeal counts for a lot, if you can get them through the front door you have a chance so keeping the frontage clean and tidy helps. An estate agent once told me -'selling houses is easy, it's just a question of price!'

In Hungary you could put down a deposit with an extended completion date to give you more time - but caution because if you have a fixed completion date that gives you a deadline that could be expensive - If the house has been on the market for some time you might get away with a very long completion date, you just have to try. If you really did find the home of your dreams here then a loan against the UK house to effect the purchase here could be a way forward.
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Old Oct 1st 2019, 5:41 am
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Default Re: House prices

Thanks Peter.
Garage - there's no garage. Plenty of land to have one built.
Gizmos - whenever away we set lights to come on randomly. We have a fake TV gizmo which gives the impression someone is home watching TV. If out for few hours we leave TV or radio on.
CCTV - I have two for UK property. Not too impressed with clarity of both. Some have limited infra red range when dark. If WiFi signal drops that's it. I also have an outdoor wildlife camera. They can be placed almost anywhere discretely if camouflaged. PIR security lights will probably give more protection but only at night time.
Dogs - currently we're down to one dog. Our all black GSD had to be put down next day after we returned from Hungary end of August. Hope to replace soon with another GSD and another once we are in Hungary. Our other dog is a sprocker. He looks too cute to take on the guard dog responsibilities although he'd make alot of noise if someone new steps into our property. Have thought of getting a caucasian shepherd instead.
Fencing around property - think this would be very expensive as the plot is 2,000 sq.m. Currently fencing is about 1m high all round. The present owners are an older couple nearer their 70's and don't own a car hence they are selling. It's a bit of trek for an older person if you can't drive and use the bus. If this older couple feel safe living there with a senior dog I don't see why we shouldn't. Will check with the local plod on crime in the area and my wife's family.
UK property - agree with you to get an estate agent round to value for quick sale and completion date. I'm currently decorating but not doing as fast as I should. I've committed to having the concrete patio re-concreted. Previous owners made a bit of a hash of the patio leaving gaps for water ingress to damage sections of it.
I better stop now. Need a coffee, breakfast and then to walk the dog before re-starting the decorating.
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Old Oct 1st 2019, 1:02 pm
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Default Re: House prices

It seem that you have the security thing understood and sorted. Earlier you said that you may be away for periods of time. How does that square with having a couple of dogs?

Originally Posted by FenTiger View Post
The present owners are an older couple nearer their 70's and don't own a car hence they are selling. It's a bit of trek for an older person if you can't drive and use the bus.
It all depends on the 70 year old, .........doesn't it (IMO 70 isn't old - its just the other side of middle aged !!)
Seriously though how long will it be before you are in the same position? But is there a village bus that provides support? Or can your wifes family be reasonable expected to help or should easy(er) access to a bus route be high on the list?
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Old Oct 1st 2019, 2:43 pm
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Default Re: House prices

Originally Posted by Peter_in_Hungary View Post
It seem that you have the security thing understood and sorted. Earlier you said that you may be away for periods of time. How does that square with having a couple of dogs?



It all depends on the 70 year old, .........doesn't it (IMO 70 isn't old - its just the other side of middle aged !!)
Seriously though how long will it be before you are in the same position? But is there a village bus that provides support? Or can your wifes family be reasonable expected to help or should easy(er) access to a bus route be high on the list?
I realise now I should have mentioned the security when no one is there and that's us and the dogs! We hope to be in Hungary sometime in early 2020. That's all subject to when our UK house is sold and we have found something in Hungary but I'm expecting a gap before we, including the dogs, all move over.

I also realise I should have said 80+ year old couple. Every body is different. My father-in-law is now 86 and until two years ago he'd always be in the garden but he's been hit with a number of medical conditions so needs support and so does the mother-in-law. I haven't actually met the older couple who own the house but have been told they were both fitness trainers or worked in that field! In the spot where they live, which is hilly, there are no support buses. Lower down the hill are my parents-in-law and again no support buses. Buses only run on the flat side of the village! I'm 60 in November and yes I had been thinking what happens when I'm 70! Hopefully, I'll still be driving. Might have to re-think the long term plans and it might be better to live on the side of the village where there is a support bus! The sister-in-law's two sons are set on working in Budapest in the long term.

Sorry if the above is a bit inconsistent. I'm trying to catch up with my decorating which should have been finished by now since retiring end of August!

I'll take all advice above on board.



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Old Oct 5th 2019, 1:58 pm
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Default Re: House prices

A property we were interested in is going through the sold process. Feeling gutted because we didn't view it last August. Suffice to say a property on same road where parents in law live has come onto the market. Outside appearance is very discrete. Inside is superb. Friendly estate agent has told us too expensive but we have yet to hear his comments on his cousins property. I smell a rat.
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