Eötvös Loránd University Budapest, Faculty of Social Sciences
ELTINGA, ELTEcon Centre for Real Estate ResearchH-1117 Budapest, Pázmány Péter sétány 1/a.
The Budapest Housing Market Report offers a location-focused, data-driven analysis for players of the Hungarian real estate market. Our report provides an exhaustive depiction of all developments, thus helping in the optimal planning of any project. In our post-recession world, previous real estate market knowledge may not prove as useful as before. By using the Budapest Housing Market Report, you can significantly lower the risk of real estate development decisions in the current market situation.
This report consists of two main segments. The first segment details the specifics of the location, identifies the potential buyers of the development and evaluates the possible channels to reach the target group. The second segment contains our estimation for a realistically achievable market price including the time frame for the sale of your development, based on micro and macro aspects. The Report specifically examines real estate developments built after 2000 in the Budapest City area which are strong market competitors for any new development.
Detailed Introduction of the Budapest Housing Market Report
I. Location and target group analysis
The first part of Chapter I includes data on the following aspects for the area: the transport network, connection time to main hubs, number of jobs, as well as the institutional background, including education, healthcare, culture, entertainment, and recreational opportunities like parks and playgrounds. As part of the location analysis our team maps out the shopping opportunities and criminal activity of the location. The report details the building saturation and the typical forms of housing in the locality. The thematic study helps to reach a clearer picture of the housing development, and serves as a guiding post in evaluating the advantages and disadvantages of the given location.
The chapter also includes descriptions of social and demographic aspects, the ratio of young and senior citizens, educational indicators, purchasing power of the residents, as well as the changes and migration patterns of the greater neighborhoud. Based on the aforementioned details our team defines the potential target groups of the development, their characteristics and the possible buzzwords for the marketing of your project.
II. Factors influencing the price and sale prospects of residential real estate
Considering that the economic situation and the housing market show strong correlation, the first part of this chapter details the current macroeconomic and real estate tendencies, including price developments both in the dimensions of geography and time, as well as the number of building permits, occupation permits and the dynamics of housing floor sizes. The chapter also includes a detailed summary of the mortgage market, in addition to the evolution of income, and affordability of housing over time. To assess the market as clearly as possible descriptions are also included about the economic outlook and the regulatory environment of the real estate market.
In the second part of the chapter the report focuses on the real estate market of the catchment area, including the typical housing types, trends of housing prices and the recorded prices of the transaction. The study specifically focuses on the houses built after 2000 in the locality, which are strong competitors for any new development. The Budapest Housing Market Report uses a unique database that is developed and regularly updated by our team, which focuses on the new and like-new (barely used) houses by collecting and analysing data from real estate advertisements and empirical surveys. Based on this database, the report shows the recent developments of the catchment area, along with their prospective prices. Established on the previously stated data on the project, our team identifies the average absorption for the location, the typical advertised prices and the current size of the supply side of the market. The report also shows the rental prices and the number of real estate advertisements. Depending on this data, our expert team supports your housing project in planning the realistic price range and sales prospects.
In the final part of the chapter, we highlight the housing characteristics of the target location including the number of floors in the buildings, energy efficiency, ratio of terraces and balconies, garage spaces and other parking spaces in order to help you adapt the project to the demands.
III. Available additional services
The Budapest Housing Market Report enables us to examine any special request. We offer additional services to our report, e.g. describing the sales prospects of retail property, offering help in answering questions about technical aspects of housing or garages, and/or developing a recommendation for the optimal level of the common costs.
IV. The new residential database of the Budapest Housing Market Report
The analyst team of the Budapest Housing Market Report have developed a unique database about the newly built residential units in Budapest. From the second half of 2015 we update the database at regular intervals in order to support our analyzes with up-to-date information. The latest release (2017 – Fall edition) includes detailed information about more than 430 residential projects and 18 thousand residential units.
We also offer subscription for this database which is regularly updated and characterized by unique data content. The database contains the flats of newly-built residential developments in Budapest which consists of at least four flats. The information of the dataset is collected from public sources. After the quarterly updates we send newsettler for those interested in the Report or the database. The latest newsettler is available at the following link:
Our satisfied returning clients include domestic and international companies such as Shikun & Binui, Immochan and Duna House. We can respond flexibly and quickly to individual needs.
About the Budapest Housing Market Report
Our analytic team bases the report on several extensive databases. In order to thoroughly inform ourselves about the location, our team uses building-level data from the Hungarian Census and the FHB House Price Index database, which describes the used residential real estate market. We have developed and regularly update a unique database about the new and like-new houses, gathering data from real estate advertisements and from empirical surveys. Our qualified team of analysers possesses deep and comprehensive knowledge of the capital city. They personally visit all locations in order to provide clients with the best possible proposition, based on their experience and expertise in the industry.
Should you have any questions or require more information about the report, feel free to contact us on any of the following addresses:
Download the sample of the database here.