Throughout the year, the residential estate market has shown a sustained momentum in 2024. The 10,231 transactions included in the December estimate represent a decline of only 9% on the previous month's results and still represent a nearly 31% stronger performance compared to December 2023.
The real estate brokerage firm estimates that July was the most active month of 2024, with 11,538 transactions. The estimated number of transactions in December is outstanding, showing a more moderate decline than the usual year-end slowdown in recent years.
The 124,508 transactions estimated for 2024 are 18% higher than the 2023 figures from the Hungarian Central Statistical Office (KSH), bringing the year to the level expected.
According to the real estate brokerage's forecast for this year, the property market is expected to further strengthen by 10-20% in both transaction numbers and prices in 2025.
According to the data of Credipass, the international financial brand of the group, the mortgage market in Hungary had a total of HUF 105 billion in mortgage loans in December last year. This represents a 5% increase in volume compared to Credipass' November estimate, and a 66% improvement compared to the National Bank of Hungary (MNB) figure for the same period in 2023, for December 2024.
The mortgage market thus ended the year above HUF 1,300 billion, based on the January-October MNB data and the estimated results of the credit intermediary in November and December, which represents a 123% stronger result compared to 2023.
They expect a further 10% increase by 2025.
