HUNGARIAN PROPERTY INDEX 'RISES'
Thursday, 23 Aug 2007
Ecostat's Real Estate Barometer, a gauge of sentiment in the Hungarian property market, rose in the second quarter of this year, a report shows.
The property barometer increased by 4.6 percentage points to 47.1 percentage points between April and July of this year, after falling in the first quarter, figures from research group Ecostat revealed.
This is the highest point the index has reached since the fourth quarter of 2005, when it stood at 48 per cent, Ecostat director Pal Belyo is quoted by Forbes.com as saying.
The rise was down to increased home building figures, although it is still unclear whether this represents a trend, Ecostat reports. The barometer should soon reach 50 per cent, indicating a healthy balance between supply and demand in the market.
Hungary has recently become a target of foreign property speculators, with experts consistently identifying central Budapest as a good area to invest in.
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