Hungarian Housing Market Slowed Before Coronavirus

  • 17 Jun 2020 9:38 AM
  • Budapest Business Journal
Hungarian Housing Market Slowed Before Coronavirus
The novel coronavirus epidemic hit a housing market that had already slowed down, said Tamás Nagy, head of department at the National Bank of Hungary (MNB), writes penzcentrum.hu.

Among other things, the MNB’s latest housing survey showed that at the end of 2019, house prices were already stagnant nationwide, and a fall in prices was even observed in the capital.

Compared to this, house price dynamics of 12.3% were observed nationwide by the end of the first quarter, while in Budapest it was only 9.5%.

Moreover, in April this year, the average number of flats in Budapest was 6% higher than in April 2019.

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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.

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