Housing Market Tightens in Hungary
- 18 Nov 2022 6:19 AM
- Hungary Matters
The NBH’s Home Market Report noted that demand for homes in the third quarter fell by an annual 35% in the capital and were down 36% in the rest of the country.
The NBH’s Home Market Report noted that demand for homes in the third quarter fell by an annual 35% in the capital and were down 36% in the rest of the country.
After this year's reversal of trends, a strengthening real estate market in terms of transaction numbers and prices, an ever-widening customer base, and a further 10pc expansion of the credit market are expected next year, listed real estate broker Duna House said in its forecast for 2025.
Attila Juhasz, the head of EVOSZ's building materials section, said there are very few ongoing state or private investment projects and both consumers and businesses have been put off by high interest rates.
Home prices in Hungary rose 10.2pc year-on-year in November, listings site ingatlan.com said.
Demand on the Hungarian home market is "lively" and could increase further in 2025, although home purchases for investment will dominate, Sandor Winkler, a department head at the National Bank of Hungary (NBH), said presenting the central bank's latest report on the market.
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