Real estate developers destabilized by the war
Photo by FOTOGRIN/Shutterstock.com
“Developers are less cheerful than buyers,” is the market sentiment typified by Tamás Kricsfalussy, head of one of Budapest’s biggest housing construction companies, Metrodom Group, according to Világgazdaság.
The head of the company told the main business daily that after a long process of housing construction, investors were in an extremely difficult position due to unpredictable cost factors and rising energy prices and building materials caused by the war.
Bringing a new home project to market means that a product completed in a year and a half will now have to be priced at a cost that developers can keep.
Due to the unpredictable budget and calculation of consumer prices, the market introduction of new projects has slowed in the last month since the outbreak of the war.
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