Building plots have become significantly more expensive in recent years in Hungary, regardless of size. Prices have roughly quintupled or even tripled, even in less accessible and less developed areas in terms of infrastructure. Experts believe that prices have now reached a realistic level and demand is growing steadily. If only because new properties with planning permission or with a simple declaration to build by the end of 2022 can be bought with the reduced 5% VAT on house building - making it a better idea than ever to buy a property now. Buyers who come to the market with a strong desire to buy know exactly what they want, which is why luxury properties are often the target. Supply is barely able to keep up with demand and leaves a lot to be desired, so the popularity of premium offers is only increasing.
What causes supply shortages?
Skills shortages are one of the most serious problems facing the construction industry every day. There are fewer and fewer well-trained, reliable craftsmen available, while orders are waiting for contractors and delays are persistent. Of course, in extreme cases, especially for new builds, costs can be so high that they seem unaffordable to most operators, but with a little searching, luxury atlases offering good value for money can always be found.
Where can you find the most sought-after properties?
Interest in land varies greatly depending on the location. Lake Balaton and the areas around Lake Velence are among the most sought-after, with the Budapest area also being highly desirable. However, the availability of land can complicate the situation; in some areas, there's simply no more space to build. Additionally, luxury buyers are often less interested in older properties unless they come with renovation plans. Renovations can be significantly more expensive than purchasing a brand-new property, and starting from scratch is often even pricier than buying an existing luxury home.
Is the desire for luxury real estate not such a luxury after all?
In light of the above, new luxury properties take on a new significance. Modern technology, enhanced in every aspect and aligned with sustainability guidelines, provides exceptional comfort. Yet, it offers even more: a long-term investment that will appreciate over decades. A luxury home isn't just a place to live; it's an investment in a worry-free future, complete with everything needed for a serene and joyful life. Additionally, the minimal maintenance costs, thanks to its high-end design, make it a smart financial choice. This is where your investment begins to pay off, and it's just the start of the benefits.
The continued enjoyment of use also drives further benefits, as the services available contribute to improving quality of life one by one. In other words, an investment that seems to demand a lot can bring many times more back to the kitchen.
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