A total of 11,304 residential properties were sold in Hungary in August 2021, real estate group Duna House said in its monthly Transaction Estimate. While this is below the monthly average of the February-June period, the January-August total is higher than the 2020 or 2019 figure.
The end of summer brought a slight upturn in Hungary's residential property market according to Duna House's estimate. Although the number of transactions was lower than in previous Augusts, it increased compared to July.
This means the major wave of vacations had a tangible slowing effect on the property market. On a year-on-year basis, the January-August transaction number is still 24% higher than in 2020 and 3% higher than the corresponding figure from the first eight months of 2019. Duna House expects the autumn season to be as active regarding transactions as this spring was.
If this comes true, there is a good chance that this year will be the strongest since 2008, surpassing the 163,000 transactions registered by the Central Statistical Office (KSH) in 2018.
