As the forint weakens, more foreigners are looking to buy real estate in Hungary
July 05. 2022. – 03:52 PM
In just a few months, the forint has lost ten percent of its value against the euro, making Hungarian real estate significantly cheaper for foreigners (and for Hungarians working abroad) – according to a recent analysis by ingatlan.com. Accordingly, while in 2021 only 0,5 percent of properties for sale in Hungary were listed at prices in euros, this has now risen to 1.5 percent.
The 10 percent value change within the space of a few months has caught the attention of many foreigners, and there has been an especially significant increase in interest from them since the price of the euro has risen to above 400 forints. The forint started to depreciate rapidly at the end of May and crossed the psychological threshold of 400 forints to a euro on 13 June.
According to the report issued by ingatlan.com
the number of foreign citizens interested in purchasing Hungarian real estate has increased by 30 percent between May and June.
There are also differences within the country in regards to which currency a property for sale is advertised in. According to the portal's analysis, the highest number of properties offered for sale in euros are those along the country's western border, by Lake Balaton and in Budapest, while in Somogy County, for example, 2.1 percent of all listings were announced in euros in June.
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The translation of this article was made possible by our cooperation with the Heinrich Böll Foundation.