There were only 8,326 residential transactions closed in Hungary in October 2022 which is the lowest figure for the month since 2012, brokerage firm Duna House reports.
October appeared to be the weakest month this year in terms of the number of transactions and mortgage loans taken out from commercial banks. Buyers took HUF 68 billion in October which is 37% lower than a year ago.
Duna House admitted that the current and forthcoming economic troubles will not allow people to buy homes, and demand is expected to come even lower by the end of the year. The government is to maintain all financial and tax incentives but these will not be enough to hold back the shrinking demand on the buyers' side.
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