Hungarian Home Price Increase Above EU Average

  • 20 Jun 2019 9:43 AM
  • Hungary Matters
Hungarian Home Price Increase Above EU Average
House prices, including purchases of both new and existing houses and flats, grew by 9.7% in 2018 in Hungary, above the 4.4% average price increase in the European Union, Eurostat data shows.

Since 2014 the pace of home price increases has been above the EU average in Hungary in every year, with the steepest rise seen in 2016 when prices jumped by 13.4%.

Last year home prices in the region also increased, although at a smaller rate than Hungary. Home prices in Poland were up 6.6%, in Slovakia by 7.4% and in the Czech Republic by 8.6%.

The home ownership rate in Hungary has slightly declined in past years, falling from 89.8% in 2012 to 85.2% in 2017 but still being well above the EU’s 69.3% average.

The fall in home ownership has been accompanied by a rise in renting as 14.8% of Hungarians were renting their home in 2017, compared to a 10.2% rate in 2012. The share of home renting in the EU has been broadly steady around 30.7%.

Eurostat reports that in 2017 10.7% of Hungarians felt that housing costs were overburdening, which is up from the 8.5% rate in 2015 but still below the 14.7% high in 2012. The EU average was 10.4% two years ago.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this twice-daily newsletter covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI. Click the title above for more info, and to subscribe.

Explore More Reports

  • Hungary Tops EU Home Price Rise List

    Hungary Tops EU Home Price Rise List

    • 8 Oct 2019 10:05 AM

    Home prices in Hungary were up by 14% year-on-year in the second quarter, the fastest increase in the EU, according to Eurostat data.

  • New Budapest Homes Reach HUF 900,000 Per M2

    New Budapest Homes Reach HUF 900,000 Per M2

    • 20 Sep 2019 7:35 AM

    The average price of newly built homes in Budapest reached Ft 900,000/m2 in the second quarter, the Budapest Housing Report calculated based on a database of 24,000 homes in large housing projects in the capital.