Housing Market Tumbles In Hungary
- 5 May 2020 8:06 AM
- Hungary Matters
Hungary’s housing market shrank by 58% in April compared with the same month a year earlier, on the back of a lockdown and economic uncertainty due to the novel coronavirus epidemic, according to real estate broker Duna House.
Property sales came to 5,971 in April compared with 14,166 last year, Duna House said. In January-April, the sales of flats and houses in Hungary came to 40,105, down 24% from the same period in 2019.
Citing a weekly breakdown of sales, the broker said the market reached its low point in the first two weeks of April, when sales were down 67%.
Demand has since started to pick back up, Duna House said, adding that actual sales were only expected to rise, however, if the epidemic remains under control.
MTI Photo: Zsolt Czeglédi
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