The real estate business is on the floor

Economy Local News

Over the past six years, more than 80 percent decrease is visible in the number of building permits issued in Debrecen. but not only less homes being built the properties also lost an
average 20% of their value. In 2011 the experts not predict further price decreases.

Loads of homes for sale in Piac street. Downtown Debrecen and the Great Forest area are the most important real estate areas but a more than 20% decrease in prices struck them also. In the past a square meter was 400 000 Huf, now the average price is 350 000 HUF. That’s more than 20 percent decline.
The concrete block flats also lost roughly 20-25% of their value.
The analysis suggests that during the last 6 years the number of building permits fell by 80%. In 2004 the municipality issued 1,752 building permits, while 488 in 2009 and only 255 in last year.

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