Demand for residential property in Hungary continued to cool in June, with zenga.hu recording a 5% drop in interest in homes compared to May, and a 24% decline against last year's monthly average. Budapest saw the sharpest fall.
"Buyers in the capital are still holding back despite stagnating prices. Investors who were actively buying Budapest flats in the first half of last year are now looking at other investments, and owner-occupiers are also waiting before making a decision," said Péter Futó, head of analysis at zenga.hu. By contrast, more affordable counties are holding up better — Nógrád recorded 20% more interest than a year ago, with Zala and Vas also showing slight growth. "With a budget of €50 million forints, you can only buy a small studio in the capital, whereas in these rural areas you can get a small family house or even a three-bedroom flat," Futó added.
By property type, family houses are performing best, with demand down just 10% year-on-year. Brick-built flats saw a 42% drop in interest, while panel flats fell 44%. On the supply side, the number of panel flat listings is up 88% compared to last year's monthly average, brick flats are up 18%, and family house supply is broadly flat. The market is increasingly favouring buyers.
Buyers are also placing growing importance on condition: more than half of searches target good-condition, renovated or as-new properties, while interest in homes requiring renovation has slipped. The current market picture suggests buyers are primarily looking for homes that are move-in ready after a coat of paint, with no significant further investment needed.
