Europe

Hungary’s seas are in dire straits, real estate prices are rising, and there is no labor force

Since 2015, real estate prices have risen 90% everywhere and up to 200% in some regions. Average prices per square meter for both apartments and homes are rising for both new and used properties. The most popular settlement was Baraton Fured. The problem with this popular tourist destination is the lack of labor. Many restaurants cannot be opened.

Brutal real estate prices on Lake Balaton

Even during the 2008-2009 economic crisis, the prices of Baraton municipalities did not fall. In addition, since 2014, prices of both condominiums and housing have been steadily rising.

Prices are the highest in Fonyód, Balatonfüred, Balatonalmádi, and Siófok.

In 2021, average home prices were up 10.4% compared to a year ago. Portfolio.hu report.. In 2021, the price of pre-owned homes per square meter ranged from 205 to 637,000 forint. The most expensive property was Baraton Fured and its surroundings, and the cheapest was Nagykanizsa.

In Csopak, Hévíz, Siófok, Balaton füred and Zamárdi, the price per square meter of new apartments all exceeded HUF 500,000. The same applies to second-hand properties. In 14 municipalities, the average price of used properties exceeded 30 million HUF.

Home prices are strongly influenced by the proximity to the waterfront.

The closer the property is to the Hungarian sea, the higher the price per square meter. Analysts say the uptrend is unlikely to slow down in the coming period.

Did the number of restaurants decrease due to labor shortage?

As with last year, in 2022, Lake Balaton restaurants will be in a difficult situation. Write nlc.hu..

In the summer, there is a shortage of waiters and cooks at restaurants.

Shortages have been reported in almost all labor markets. Not only restaurants but also hotels are dissatisfied with the lack of staff. Workers are expecting high wages, according to the chairman of the Hungarian Hospitality Industry Association. “Some people won’t even be able to open because they couldn’t take these costs and give them to their guests. I know a restaurant in western Hungary that closed 39 years later because it couldn’t solve a labor problem.” Said László Kovács.

Higher prices for raw materials, energy and workers’ salaries can also lead to higher prices in the food service industry.

Source: nlc.hu, portfolio.hu

https://dailynewshungary.com/hungarian-sea-in-trouble-rising-property-prices-and-no-labour/ Hungary’s seas are in dire straits, real estate prices are rising, and there is no labor force

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