Hungary's residential property market is showing signs of normalisation, according to the latest Ingatlan Radar report from zenga.hu. While listed prices continued to rise in July 2026, the pace of annual price growth slowed both nationally and in Budapest, and one county recorded an outright year-on-year decline.
In Budapest, listed prices rose 0.3% month-on-month in July, bringing the average advertised price per sqm to HUF 1.49 million. Nationally, the monthly increase was a more modest 0.2%, with the average reaching HUF 990,000 per sqm. On an annual basis, Budapest recorded 6% growth and the national figure came in at 10%, each representing a slowdown of one to two percentage points compared with the previous month. In Zala county, advertised prices are now 1% lower than a year ago, while Borsod-Abaúj-Zemplén county still shows annual price growth above 30%. "This is partly because fewer new homes are being listed in Zala than last year, while in Borsod the share of newly built and therefore more expensive homes within the supply has risen from a very low base," said Péter Futó, head of analysis at zenga.hu.
In the new-build segment, Budapest's average advertised price per sqm rose 1.3% in a single month to reach HUF 1.83 million, while the national new-build average increased by 0.8%. Counties around Lake Balaton moved in the opposite direction, recording monthly price declines of between 0.7% and 1.5%. "In Budapest, homes listed in July came to market at higher prices than in June, and some cheaper projects sold their last units and left the supply, pushing the average up. At Balaton, the opposite happened, with more affordably priced homes now being advertised," Futó said.
The building plot market also reflects Budapest's dominance. Plot prices in the capital rose 2.1% month-on-month and 18% year-on-year, driven in part by the fact that more than half of all property developments are concentrated in Budapest and its immediate surroundings. Settlements around Budapest saw monthly growth of 0.5% and annual growth of 13%. Nationally, building plot prices are up 0.5% since June and 9% compared with July last year, while the Balaton plot market remains subdued, with prices rising only 5% over the past year and falling 1.9% against June.
Overall, the July data point to a gradual normalisation of Hungary's residential market. Prices continue to edge upward, but the momentum seen in previous years is clearly fading, with regional differences becoming increasingly pronounced.
