The value of projects entering construction in July-September 2025 exceeded HUF 1,000 billion at current prices, the second highest level in the past ten years, according to the latest EBI Construction Activity Report Hungary.
The research found that the ongoing M1 motorway expansion drove a significant rise in construction project values during Q3 2025.
In Q3 2025, the value of started building construction projects was HUF 400 billion, similar to the April-June period. Thanks to strong figures between January and March, the value of building construction projects entering construction exceeded HUF 1,500 billion, only 4 points short of the same period in 2023 and 2024. At constant prices, activity starts between January and September were the lowest in the past 9 years.
Multi-unit housing construction activity starts, although greatly reduced, stayed at a high level, with projects started in Q3 2025 exceeding HUF 170 billion. The situation was opposite in non-residential construction. The segment recovered somewhat between July and September from the previous quarter's low point, but projects still entered construction at a low value of around HUF 230 billion. Since 2017, non-residential construction projects haven't started at a lower value than in the first 9 months of this year.
Civil engineering activity starts registered a surge in Q3 2025 due to M1 motorway expansion. Outside road construction, the value of construction projects started in other civil engineering segments was moderate. While total civil engineering activity starts exceeded HUF 760 billion, the value of non-road and railway projects started was only around HUF 50 billion in Q3.
Industrial buildings and warehouses thrived between 2022 and 2024 when construction works worth between HUF 700 billion and 1,000 billion started annually. This year has seen a decline and the value of projects started in Q2-Q3 2025 has been the lowest since 2021. In the first 9 months of 2025, activity starts in industrial buildings and warehouses was around HUF 400 billion, 37% lower than in the same period of 2024.
