Why do house sellers do CRAZY price increases
Jul 14th 2022, 2:53 pm
#16
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Why do house sellers do CRAZY price increases
Yes it does. 
If nothing has changed to the local market and supply of houses, then you need to look at where the buyers are coming from - in your case I would suggest that there is probably an influx of Germans and Austrians looking for "a home in the country" or "to get out of the rat race". We have seen similar price inflation since the covid pandemic started. Where you used to be able to buy a modest to moderate-sized home for the equivalent of €40,000 - €80,000, and a fairly nice home for €150,000 - €180,000, prices have increased 2-4 times at the low end, and doubled even at the high end!
And the driving force here in North Carolina and neighboring states appears to be people migrating south from the Washington DC area, New York, and Boston/ New England, where family homes commonly sell in the €400,000 - €1million+ range.
If nothing has changed to the local market and supply of houses, then you need to look at where the buyers are coming from - in your case I would suggest that there is probably an influx of Germans and Austrians looking for "a home in the country" or "to get out of the rat race". We have seen similar price inflation since the covid pandemic started. Where you used to be able to buy a modest to moderate-sized home for the equivalent of €40,000 - €80,000, and a fairly nice home for €150,000 - €180,000, prices have increased 2-4 times at the low end, and doubled even at the high end!
And the driving force here in North Carolina and neighboring states appears to be people migrating south from the Washington DC area, New York, and Boston/ New England, where family homes commonly sell in the €400,000 - €1million+ range.Last edited by Moses2013; Jul 14th 2022 at 2:58 pm.
Jul 14th 2022, 3:32 pm
#17
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,463
Re: Why do house sellers do CRAZY price increases
I think there are fewer Germans moving to Hungary than you would think and according to stats from Germany, 1491 moved to Hungary in 2021 and 556 returned back to Germany. Of course a lot of Hungarians live abroad and might buy holiday homes back home, but the population has also declined rather than increased. From the 1200 German buyers who bought in Hungary, half might even be from Hungary and just have a German passport.
..... But joking aside, it certainly sounds like there is a different pool of buyers that have entered the market. Could it be Ukrainians buying a bolt-hole? Another thought, I am not sure what the source of your data is, but if a German (or anyone else from within the EU) bought a home in Hungary as a holiday home and/or future retirement home, but didn't actually relocate to, or in anyway "register their life" in Hungary, would they even show up in the statistics?
Last edited by Pulaski; Jul 14th 2022 at 4:45 pm.
Jul 14th 2022, 4:43 pm
#18
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Why do house sellers do CRAZY price increases
Maybe its the Russians then? ..... But joking aside, it certainly sounds like there is a different pool of buyers that have entered the market. Could it be Ukrainians buying a bolt-hole?
Another thought, I am not sure what the source of your data is, but if a German (or anyone else from within the EU) bought a home in Hungary as a holiday home and/or future retirement home, but didn't actually relocate to, or in anyway "register their life" in Hungary, would they even show up on the statistics?
..... But joking aside, it certainly sounds like there is a different pool of buyers that have entered the market. Could it be Ukrainians buying a bolt-hole? Another thought, I am not sure what the source of your data is, but if a German (or anyone else from within the EU) bought a home in Hungary as a holiday home and/or future retirement home, but didn't actually relocate to, or in anyway "register their life" in Hungary, would they even show up on the statistics?
Jul 14th 2022, 4:46 pm
#19
Joined: Dec 2001
Location: Dixie, ex UK
Posts: 52,463
Re: Why do house sellers do CRAZY price increases
Jul 14th 2022, 4:51 pm
#20
Account Closed
Joined: Mar 2017
Posts: 0
Re: Why do house sellers do CRAZY price increases
Jul 14th 2022, 5:20 pm
#21
Lost in BE Cyberspace
Joined: Feb 2013
Posts: 6,148
Re: Why do house sellers do CRAZY price increases
As Expatrick said, the government where you buy would pick up on the land registry. Having lived in Germany with family still there, it wouldn't surprise me if they know every movement you make anyway. And especially within the EU all data is shared.
