GKI Budapest Real Estate Market Index, 2002-2010

In October 2010 the GKI Budapest Real Estate Market Index was -23.3, which means significant improvement compared to the previous quarter. This data is higher by 11 points than the ‘historical' trough registered in July 2009, but lower by 6 points than the long-term average. Compared to the previous quarter expectations on every segments improved. The most plausible improvement can be experienced on the warehouse market, this segment will probably recover in a rapid way after the financial and economic crisis.

Assessment of residential market has been waving for 15 months. Situation assessments concerning the housing market have slightly improved in April and slightly deteriorated in July and slightly improved again in October. For the next 12 months, responding developers and realtors expect an improving market situation in Budapest and in the rural areas as well. According to the October 2010 survey data, household expectations for home building and purchase have slightly deteriorated from the previous quarter. In October 2010 some 3,000 households will buy or build a new home within the next year.