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Housing Market Heating Up in Hungary

• 15 Aug 2024 11:33 AM
• Hungary Around the Clock

Housing sales surged 89% year-on-year to 11,538 in July, the highest figure to date in 2024, and a 24% increase from the previous month, real estate broker Duna House said in a monthly estimate.

The agency calculates that banks signed Ft 115 billion in mortgage contracts last month.

The average price per square metre for prefabricated buildings was Ft 573,000 in the eastern part of the country, and slightly lower in the western regions, at around Ft 550,000.

These numbers rise to Ft 930,000 in Buda and Ft 820,000 in Pest.

Investment drove 32% of property purchases in the capital, with the number of first-time buyers remaining steady compared to last year.

Those buying homes for investment purposes paid Ft 66.4 million for properties, on average, while first-time buyers spent Ft 46.5 million.

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