“Saving Big on Home Purchases in Hungary: Why Haggling is the Key”
Hungarian property buyers who successfully bargain with sellers could save millions of forints, or tens of thousands of euros, due to property prices stagnating in the last few months, according to Laszlo Balogh, ingatlan.com’s chief economist. While inflation has led to peak prices, high interest rates continue to prevent buyers from entering the market. However, small price changes, such as the square metre price of properties falling by 1.7% in Budapest’s popular district XIII, can lead to significant savings for buyers. As energy efficiency and sustainability increasingly become important factors for buyers, properties and buildings with high energy consumption and necessary renovations are becoming much less desirable. Balogh says it’s not uncommon for buyers to get a 10-15% bargain on unpopular properties.
