Hungary Home Prices Climb by Nearly 20%

Residential

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Home prices rose by close to one-fifth in the first quarter from the same period a year earlier, news agency MTI reports citing data compiled by the Central Statistical Office (KSH).

The price of resale homes climbed 19.6% and the price of new homes increased by 18.8% during the period.

In a quarter-on-quarter comparison, price growth reached 7.3% for resale homes and 4.8% for new homes. 

The price of resale homes averaged HUF 362,000 per square meter for the whole country in Q1. The price in the capital averaged HUF 766,000/sqm but was as low as HUF 67,000/sqm in villages in the underdeveloped north of the country.

The price of new homes averaged HUF 758,000/sqm countrywide. In the capital, prices averaged HUF 1,040,000/sqm. In county seats, they averaged HUF 619,000/sqm.

Around 20,200 homes were sold in Hungary in Q1, including 19,700 resale homes and 600 new homes. About 3,300 new homes were built for sale during the period.

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