The change marks a sharp departure from the previous roughly even split between demand for houses and apartments, industry participants said.

Experts described 2025 as a “rollercoaster” year for the housing market, with dynamic changes in demand, supply and prices driven by multiple factors.

“While twice as many people are now looking for family houses as apartments, the supply of new-build apartments under 60 square meters has also increased by one and a half times,” said Zsuzsa Lipták.

She added that the past four years have been characterized by significant changes, requiring market players to continuously adapt their strategies.

Government Program Drives Demand

One of the strongest drivers of change has been the Otthon Start housing program, under which around 30,000 contracts have been signed so far.

András Becsei, deputy CEO of OTP Bank, said more than 40% of these loans had been disbursed by OTP, underscoring the bank’s key role in housing finance.
 

After a slowdown at the start of the year, inquiries have begun to rise again, although a slight pause has been observed in recent weeks. Demand remains concentrated in rural markets and for family houses, while interest in smaller Budapest apartments — previously popular among investors — has declined, with supply increasing.

Price Growth Slows

“The pace of housing price increases continues to slow, with prices in Budapest 14% higher and nationwide 18% higher than a year earlier,” said Péter Futó.

Looking ahead, market developments will depend on the broader economic environment, including raw material costs and exchange rate fluctuations, which influence construction costs. Demand is expected to remain broadly in line with last year, while more new homes are set to enter the market, potentially further moderating price growth for new builds.

As prices for existing homes rose faster than those for new properties over the past year, the gap between the two segments has narrowed, which could steer more buyers toward newly built homes.

Regional Markets Gain Strength

Investment activity is picking up not only in Budapest but also in major regional cities such as Debrecen and Szeged, where around 800–900 new homes are expected to be completed this year.

At the same time, regional markets are becoming less affordable. In parts of Debrecen, the price per square meter for new homes has reached HUF 1.4–1.5 million.

The conference also featured Dénes Kemény, former head coach of Hungary’s national water polo team, who emphasized the importance of adaptability in a rapidly changing environment. He said successful leaders must continuously learn from mistakes and consider both team and individual perspectives.

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