Construction figures drop in Hungary

20
Feb
2024
News - Construction figures drop in Hungary #construction #dwellings #housing #Hungary

by Property Forum | Residential

In 2023, 18,647 new dwellings were built, 9.2% fewer than a year earlier. The number of dwellings to be built under construction permits and simple declarations issued was 21,501, 39% fewer than in 2022, Hungary’s Central Statistical Office reports.


In Budapest, 6,359 dwellings were put to use, 3.8% fewer than a year earlier. The decline was particularly severe in county seats (–29%), while it was milder in the other towns (–2.0%) and villages (–8.5%). The number of new dwellings increased by 7.3% in the Pest region and decreased in the other regions compared to 2022. The rate of decrease was highest in the Southern Great Plain, at 45%.

Outside the central large region, Győr-Moson-Sopron county continued to have the highest number of dwellings built, but even this was down from a year earlier (–6.4%). The share of dwellings built by natural persons decreased from 39% to 36%, while those built by enterprises increased from 60% to 64% compared to 2022.

Of dwellings put to use in new residential buildings, 46% were in detached houses, 45% in multi-family buildings and 7.1% in residents’ parks. This represents an increase of 6 percentage points for multi-family buildings and a decrease of 3 percentage points for detached houses compared to a year earlier. The average floor area of dwellings put into use decreased by 2 m2 to 94 m2 compared to 2022.

Based on building permits and declarations, the construction of 21,501 dwellings was initiated, 39% fewer than in the previous year. Construction sentiment declined most in villages (–43%) and the capital (–41%), with 28% fewer permits issued in county seats and 37% fewer in the other towns.

The number of dwellings to be built decreased in all regions, except Southern Great Plain (–0.1%), which stagnated, compared to the previous year. At the county level, there was also a general decline, with only Bács-Kiskun showing a significant increase (11%) and Hajdú-Bihar stagnating (+0.3%). Builders made use of the simple declaration option in 44% of cases. This rate is 7.0% in Budapest and 89% in villages.

Based on the new building permits issued, 8,732 residential buildings are planned, 37% fewer than in 2022. The planned 6,981 single-family residential buildings represent 80% of all residential buildings to be built. The number of planned non-residential buildings was 4,013, 16% fewer than a year earlier.




Latest news


New leases

  • XXS GYM has signed a lease for over 850 sqm of space in the modern O3 Business Campus office complex, located on Opolska Street in the northern part of Cracow.
  • Alior Bank has extended its lease at Ocean Office Park B in Kraków to accommodate its Private Banking Department. The deal, supported by brokerage firm CBRE, marks the final stage of a two-year consolidation of the bank's Kraków operations. Following the expansion, the bank occupies approximately 7,000 sqm within the Cavatina Group-owned complex.
  • TriGranit has finalized a lease extension with Mondelez Europe Services to remain in the Signum Work Station building through 2032. Facilitated by broker CBRE, the agreement secures nearly 4,000 sqm of office surface for the global snacks group member within Warsaw’s Mokotów district.

New appointments

  • Katarzyna Myjak has joined Axi Immo as Senior Business Advisory Manager, tasked with strengthening the company’s Industrial & Logistics business line.
  • Czech investment group SCF has expanded its team by appointing Jan Simandl as Senior Leasing Team Leader. In this role, Simandl will oversee leasing activities across the company’s commercial property portfolio. He previously worked for CPI Property Group and CBRE.
  • Michał Kochanowski-Laren has joined Avison Young Poland’s Technical Advisory and Project Management team as Project Manager. In his new role, he is responsible for delivering a variety of consultancy projects across all segments of the commercial real estate market in Poland. Kochanowski-Laren is an electrical engineer and a graduate of the Warsaw University of Technology.


Latest news

News - Bucharest remains top-performing city for short-term rental
22
Apr
2026

Bucharest remains top-performing city for short-term rental

by Property Forum
Romania's short-term rental market continued to grow in 2025, confirming rising interest among property owners in this way of monetising real estate assets.
Read more >
News - Bratislava resi market sees lower sales in early 2026
22
Apr
2026

Bratislava resi market sees lower sales in early 2026

by Property Forum
Bratislava's new-build market entered 2026 at a moderate pace, but without signs of weakening demand. According to current data from BuiltMind, 631 apartments were sold in public sales in Q1, slightly less than in the strong end of 2025. Despite the quarterly decline, this remains a solid result confirming that interest in new housing in the capital remains stable.
Read more >
News - Ekopark expands to three new Polish cities
22
Apr
2026

Ekopark expands to three new Polish cities

by Property Forum
Polish developer Ekopark has announced plans to expand into three new markets. The company will enter Katowice, Łódź and Warsaw whilst continuing 13 ongoing projects in Kraków.
Read more >


Property Forum ABOUT US

Property Forum is a leading event hub in the CEE real estate industry with over 10 years of experience. We organise conferences, business breakfasts and workshops focused on real estate, in London, Vienna, Warsaw, Budapest, Bucharest, Bratislava, Prague, Zagreb and Sofia, amongst other locations.
Please send press releases to
newsdesk AT property-forum DOT eu
MORE >

CONTACT

NEWSLETTER

 

Property Forum © 2017 – 2026 | Terms & conditions | Privacy policy