Hungary ranks 3rd in Europe for owner ratio

Hungary, at 91.3%, has the 3rd highest proportion of private homeowners in Europe, according to a survey released on Tuesday.

Owning your own home is a big step in anyone’s life, but getting on the homeownership ladder seems to be getting harder and harder, especially for first-time home buyers.

And while buying a home can be a challenge no matter where you live, the situation varies greatly from country to country.

They looked at which European countries have the highest and lowest proportions of homeownership, as well as their link to average house prices.

Rows

With 96.1%, Romania takes first place, followed by Slovakia with 92.3%, according to the survey conducted by Compare the Australia market found. Croatia shares third place with Hungary.

Germany, with 50.4%, has the lowest proportion of private owners.

Demand for private properties is much higher in Central Europe, while in Western Europe there is generally more rental culture, according to the newspaper.

Real estate and rental prices

Property prices per square meter in Hungary average 2,250 euros, putting it at the top of the region, while rental prices are also high, although Slovakia and Lithuania are ahead of Hungary in this respect.

Romania, Bulgaria, Latvia, Greece and Cyprus also have lower average prices per square meter than Hungary.

In Hungary, an apartment costs on average 453 euros to rent, according to the survey. Average rents in Romania, Bulgaria and Latvia are also lower than in Hungary.

Record rental prices in Budapest will continue to rise this summer. In the coming months, tenants will have to dip into their wallets if they want to rent an apartment in the Hungarian capital. Here are the details!

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Sallie R. Loera