Resale Home Prices In Hungary Drop 6.3 Percent In Q2

  • 21 Oct 2020 11:50 AM
  • Hungary Matters
Resale Home Prices In Hungary Drop 6.3 Percent In Q2
Resale home prices were down 6.3% annually in the second quarter, which is the biggest drop in prices in the past five years, realtor Ingatlan.com said in an analysis complied from its own and the Central Statistical Office’s (KSH) preliminary data.

The annual drop can be mostly attributed to trends from mid-March to the end of April when demand was down by an annual 10-40% while advertisement numbers also fell by 10-30% because of spring lockdown measures to fight the coronavirus outbreak.

Ingatlan.com analyst László Balogh said sellers had to lower their prices in that period to finalise deals.

Resale prices fell by 8% in Q2 compared to Q1 but compared to the price level in 2015 they were still up by 60%.

While the price of resale homes was down, new home prices grew by 1.4% in Q2.

Balogh said the housing market will be volatile in the coming months.

Fresh data of Ingatlan.com show that in the first three weeks of October demand for resale homes was down an annual 19% and the number of available resale properties was 8% lower.

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Matters

Launched in January 2014, this newsletter published on week days covers 'everything you need to know about what’s going on in Hungary and beyond', according to its publisher the state media agency MTI.

Explore More Reports

  • Home Buyers from Outside EU Down 40% from 2019

    Home Buyers from Outside EU Down 40% from 2019

    • 18 Oct 2021 4:54 PM

    Homebuyers from outside the European Union applied for a license to purchase real estate in Hungary in 2,200 cases last year, down 40% from 2019, listed real estate broker Duna House said yesterday, according to profitline.hu.

  • Home Sales in Hungary Down 7% in September

    Home Sales in Hungary Down 7% in September

    • 14 Oct 2021 12:20 PM

    Home sales in Hungary fell 7% year-on-year to 11,807 in September, as more Hungarians than usual went on vacation, listed real estate broker Duna House said in a monthly report released this week, according to business daily Világgazdaság.