Hungarian House Prices Increase Further In Q1

  • 2 Aug 2018 7:56 AM
  • Budapest Business Journal
Hungarian House Prices Increase Further In Q1
Hungarian residential property prices rose by an average of 5.4% in nominal terms in 2018 Q1 compared to the previous quarter. This is a significant increase compared with the rate of price growth in the final quarter of 2017, the National Bank of Hungary (MNB) reported.

Annual growth in house prices picked up slightly to 15.4% in nominal terms in the review period. In real terms, the quarterly growth rate of house prices was 4.8%, significantly above growth in the previous quarter, and the annual growth rate was 13.2%.

In Budapest, house prices grew by 5.6% in Q1 in nominal terms, faster than in previous quarters, and by 16.6% in one year. In provincial cities, the quarterly growth rate was 5.5% on average in nominal terms in 2018 Q1. That was similar to the growth in prices in the capital, but significantly higher than in the previous quarter.

The annual growth rate of house prices picked up, reaching 14.8% in the period. In municipalities, house prices grew by 5.1% in the first three months of 2018, only slightly below the national average. This brought the annual growth rate of house prices to 15.6%, slightly lower in annual terms than in the previous quarter.

The annual growth rate also accelerated somewhat: the 16.6% rate of growth exceeded the annual national average increase in house prices. The quarterly growth rate of house prices in cities outside Budapest was 5.5%, slightly below that in the capital. This resulted in a 14.8% annual rate of increase, slightly below the annual national average, but higher than in the previous quarter.

  • How does this content make you feel?

XpatLoop Media Partner

Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

Explore More Reports

  • Garden Expo, Budapest Aréna, 22 – 24 March

    Garden Expo, Budapest Aréna, 22 – 24 March

    • 19 Mar 2024 12:14 PM

    Whether it is a garden, a terrace, or just a balcony, the garden lifestyle exhibition, called GardenExpo taking place annually in Papp László Budapest Sport Arena, held this year on March 22-24 gives the perfect and hottest answer of the given year to everything.

  • Home Sales Explode in Hungary

    Home Sales Explode in Hungary

    • 4 Mar 2024 6:44 AM

    There were 10,754, homes sold in February, a 72% rise from a year earlier, when the housing market was in an abyss, according to an estimate by property agency Duna House released.

  • Prefab 'Panel' Flat Prices Decrease in Budapest

    Prefab 'Panel' Flat Prices Decrease in Budapest

    • 24 Jan 2024 11:30 AM

    The prices of prefabricated apartments in the capital decreased by an average of 3% per sqm in 2023, after the 32% increase experienced in 2022, according to data from Duna House, writes profitline.hu.