Down Market: Demand for Real Estate in Hungary Falls 42% y.o.y.

  • 20 Jun 2023 8:35 AM
  • Budapest Business Journal
Down Market: Demand for Real Estate in Hungary Falls 42% y.o.y.
Nationally, the demand for real estate for sale decreased by 42% on an annual basis between January and May.

There were no significant regional differences within this, but other characteristics can be found in the data provided by ingatlan.com, according to business daily Világgazdaság. 

"There are no exceptions, the data indicates a drop in demand close to the average in all counties; significantly, nowhere do you see either a greater stagnation or a greater spin than what is typical for the entire country," László Balogh, the leading economic expert of Ingatlan.com, summed up the results of the regional analysis.

The 51% drop in demand among newly built apartments was higher than average, but it is compared to the high base caused by the buying fever generated by the green loan opportunity last year.

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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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