There are places where a plot, apartment or industrial park can be sold for 50-60 percent below the market value.

adatRADAR contacted several municipalities recently and inquired about how much their properties with different land register classifications were sold for. The portal then compared the reported prices with the data of ingtalan.com and other advertising sites for a specific area and category (apartment, house, agricultural or industrial area, etc.) in order to obtain a value approximating the market price.

According to the data processed so far, a difference of around 30 percent is not uncommon, but there are plenty of examples of differences of 50-60 percent or more. As an example, the portal mentions an apartment close to the Danube, on Dózsa György út, which the municipality sold for HUF 78,920 per square meter, instead of the HUF 400,000 per square meter typical of the center of Vác.

In the capital, a discrepancy of around 30 percent is not uncommon in the case of sales already examined by adatRADAR, but in Ferencváros they ran into double that. During Táblás, a 47-square-meter apartment was sold for HUF 7,248,000, and a 37-square-meter studio in Osztag Street for 6 million, that is, the buyer paid HUF 155,436 and HUF 160,428 per square meter, but Budapest IX. in the district, properties are advertised at a price of HUF 400,000/square meter, so the difference is 64 percent for the former and 63 percent for the latter. At the same time, the portal found eight more properties on Üllői út, Börzsöny utca, Boráros tér, Bakáts and Soroksári út, which were 50-60 percent cheaper than the district average.

Outstanding discounts in industrial areas and business premises!

DataRADAR says: Istvántelki út 61-63 in Újpest. More than 1,600 square meters of property located at No. IV. is one of the frequented parts of the district, there are not many vacant lots in that area, and the ones you found on the advertisement pages are looking for owners at a price of HUF 158,000-164,000 per square meter. The municipality, on the other hand, sold the undeveloped plot for half of that, not quite 80,000 forints per square meter.

Regarding the business premises, dataRADAR says that in Siófok and III. in the district, a few customers were able to get a good deal at a favorable price. For example, the local government sold a 33-square-meter shop on Fő utca of the popular settlement on the Balaton for a net price of HUF 3.4 million, and another shop found a new owner for a net price of HUF 5.2 million. This means that, proportionally, the more expensive one did not even reach the price of HUF 175,000 per square meter, even though according to the data of ingtalan.com1, in the entire area of ​​Siófok, no one square meter is offered for less than HUF 577,000.

The III. and in the district, the local government also sold two 46-square-meter business premises on Bécsi út for HUF 3,250,000 in 2021. This means just over HUF 70,000 per square meter, compared to which, according to adatRADAR, the ads appearing on the ingatlan.com page also show a significant difference. Among the 10-99 square meter shops offered for sale on the street, even the cheapest costs more than HUF 900,000 per square meter.

Of course, the price of a property is greatly influenced by its condition, equipment and other circumstances, so the numbers calculated from the data of the advertising pages cannot be considered set in stone. BUT the trend is clear, left-wing real estate management seems irresponsible

Source: mandiner.hu

Featured image: ingatlan.com/illustráció