The panels changed hands vigorously

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Even so, the panels – especially the flats of buildings made with house factory technology in downtown Budapest – sold out the fastest, with an average of 24 days longer to sell than in the previous year. In contrast, the sales time for condominiums has been extended by three weeks, Otthon Centrum listed in its statement the main experiences of 2020.

Housing estates with balconies are for sale Photo: Miklós Teknős

A mixed picture emerged in different parts of the country. As a result of the epidemic, the demand for agglomeration single-family houses has picked up: in Pest County, for example, this type of property was the fastest to sell in 2020 in the last ten years – around five months, the lowest number in the last ten years. However, the time required to sell second-hand homes became longer on a national average, while the time to sell single-family homes remained unchanged.

“In the cities with county status, the flats sold out at a similar time, but in the smaller settlements it took more than four months to sell, but the data show that Budapest was mainly adversely affected by the appearance of the virus,” said the head of analysis.

A year ago, the epidemic on the real estate market did not make its mark Graphics: Hungarian Nation

Gábor Soóki-Tóth, Head of Analysis at Otthon Centrum, indicated that the rotation speed had slowed down considerably, sales time had increased and significant differences had developed between the different areas. As he said, in order for the properties to change owners, it took an average of 76 days on the Hungarian market.