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Home Sales Here Down 7% Last Month

• 4 Apr 2022 7:17 AM
• Hungary Around the Clock

The number of home sales was down 7% year-on-year to 14,548 in March, but rose by 5.5% from February, according to estimates by real estate broker Duna House.

In the first quarter, the number of sales reached 39,156, the second-highest figure in ten years.

That strong market activity is fuelled by households bringing their purchases forward as interest rates continue to rise. In addition, many investors have also turned to property in the current uncertain market environment.

Mortgage outlays were up 3% year-on-year to Ft 108 billion in March, a 4% rise from the previous month, as clients sought to strike deals before mortgage rates go up, Duna House estimated.

New applications in March remained strong, foreshadowing a robust credit market in the coming months.

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