There were 5,971 residential property deals made in Hungary in April 2020, according to the latest monthly transaction estimate by real estate group Duna House. The last time the monthly figure was this low was at the low point of the previous crisis in 2013. Meanwhile, weekly data suggest that we are past the trough as the market picked up slightly in the second half of the month.
There have been only four months in the past ten years with lower transaction numbers, and those were in January and December in the worst crisis years. This April's residential figures were 58% lower than a year earlier due to social restrictions and economic insecurity, Duna House said.
The weekly distribution of deals indicates that the second half of April brought some improvement, so unless the coronavirus situation takes a turn for the worse, the market is expected to gradually recover.
Sign up today for the latest news