The autumn kicked off well on the Hungarian residential property market, with 9,754 transactions concluded in September, according to Duna House estimates. This marks a 4.6% increase in monthly terms but a 20.9% jump year on year.
In theory, this means that on average a home is sold every five minutes or so in the country.
A total of 30,615 residential properties were sold in the third quarter of 2024, which exceeds not just last year's figure (+36,8% over 22,387, the lowest since 2012), but also the 2022 print (+9.6% over 27,926).
92,261 dwellings were sold in the first nine months of the year, a 39% year-on-year growth and a figure proportionately sufficient to reach the middle of the 110,000 to 130,000 transactions Duna House expects for the year.
With resources and buyer confidence in place, real estate experts expect significant buyer interest and a high number of closings for the rest of the year.
According to DH data, the summer lull has also ended in the mortgage market, with HUF 112 billion of mortgage loans contracted in September this year. Compared to the August estimate, the volume shows a 7% growth, and compared to central bank data for the same month of 2013, the segment performed 106% better.
