Sustainable Recovery? Deciphering Hungary’s Residential Property Market before the Pandemic

Q2 Social Sciences Critical Housing Analysis Pub Date : 2022-01-01 DOI:10.13060/23362839.2022.9.1.537
Jörg J. Dötsch, Tamás Ginter
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Abstract

This paper develops some analytical perspectives for a proper assessment of the dynamics observed on the Hungarian residential property market over the last decade. These dynamics are examined in comparison to official policy objectives. On the one hand, sustainable development and social balance were particularly urgent issues after the last financial crisis. On the other, the residential property market was officially instrumentalised to achieve them. We examined real estate market processes using data from the Hungarian Central Statistical Office and found a change in investment motives and in the main groups of actors dominant in the market, and we also examined the role of foreign investment. At the aggregate national level, the past decade looks like a process of recovery. Nonetheless, the factors relevant for the observable dynamics do not seem to correspond to the goals also formulated in the new constitution, but rather document the investment fever of certain groups.
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可持续的复苏?大流行前解读匈牙利住宅房地产市场
本文开发了一些分析观点,以适当评估过去十年中观察到的匈牙利住宅房地产市场的动态。将这些动态与官方政策目标进行比较。一方面,在上次金融危机之后,可持续发展和社会平衡是特别紧迫的问题。另一方面,住宅房地产市场被官方用来实现这些目标。我们使用匈牙利中央统计局的数据检查了房地产市场过程,发现了投资动机和主导市场的主要行为者群体的变化,我们还检查了外国投资的作用。在国家整体层面上,过去十年看起来像是一个复苏的过程。尽管如此,与可观察到的动态相关的因素似乎并不符合新宪法中也制定的目标,而是记录了某些群体的投资热。
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来源期刊
Critical Housing Analysis
Critical Housing Analysis Social Sciences-Sociology and Political Science
CiteScore
2.70
自引率
0.00%
发文量
6
期刊介绍: Critical Housing Analysis is a peer-reviewed academic journal focusing on critical and innovative housing research. The journal was launched in January 2014 and publishes two online issues annually. Critical Housing Analysis is published by the Institute of Sociology of the Czech Academy of Sciences. Critical Housing Analysis aims to provide on-line discussion space for researchers who come up with innovative, critical and challenging ideas and approaches in housing-related research. The unique function of this journal is to facilitate rapid feedback on critical and innovative ideas and methods developed by housing researchers around the world. We are especially keen to publish papers that provide: 1.Innovations in methods, theories and practices used in housing-related research. We especially welcome papers applying original research strategies (such as, mixed and interdisciplinary methods) and international comparisons with a strong sense for contextual and institutional differences. Papers should provide new and fresh research perspectives allowing a deeper understanding of housing markets, policies and systems. Innovations need to be justified but they could be “work in progress”, i.e. their findings may not yet have been fully verified. 2.Critiques of assumptions, methods and theories used in housing-related research. Such critical evaluations must be well-founded (empirically or by consistently logical argument) and convincing. However, there is no particular need to provide a solution to the problems that have been identified. 3.Critiques of applied housing practices and policies in particular cultural and institutional contexts, especially for those countries that are less represented in mainstream housing policy discourse. The critical assessment of policies must be analytical, should propose new perspectives and lead to wider policy implications.
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