Duna House has released its monthly Transaction Estimate and mortgage forecast, showing that there were 11,185 residential property transactions in Hungary in July, 15% fewer than a year earlier.
The number of transactions in Hungary's residential property market stopped growing in the second month of the summer and dropped to the level seen early in the year, Duna House said in its transaction estimate. The 11,185 transactions estimated match the January figure and represent a roughly 15% decrease compared to previous Julys.
According to analysts, the decrease was primarily due to the wave of summer holidays, which has been stronger than usual this year and is currently slowing property deals considerably. On a year-to-year basis, the January-July transaction number is still about 30% higher than in 2020. It is also 4% higher than the corresponding figure from the first seven months of 2019 and 2% higher than the 2018 level. According to Duna House, property market transactions are expected to pick up in the autumn again and will match the spring months.
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