There were 8,400 residential property deals made in Hungary in May 2020, according to the latest monthly transaction estimate by real estate group Duna House. Although still 38% lower compared to last May, the monthly figure looks much healthier than in April.
Hungary’s residential property market appears to be recovering from the April low, and as social distancing rules and movement restrictions are lifted, buyers are returning to the market by the week. Duna House estimates that the number of property deals rose 35% compared to April, even as the May figure was 38% below last year’s.
Weekly data continue to confirm the gradually climbing trend, as transaction numbers in the last week of May were only 22 to 31% lower compared to the same period last year. If the trend holds, the market will catch up to last year’s levels in a couple of months.
