ARTICLES LABELLED WITH TAG Duna House

Foreign demand for Hungarian residential real estate surged in 2024, marking a return to pre-Covid activity levels. According to government statistics, non-EU nationals submitted 3,647 applications to purchase property in Hungary last year — a 23% increase compared to 2023. Of these, 3,485 were approved, according to the reports of brokerage firm Duna House.

Duna House has released its monthly estimate of residential property transactions and mortgage market data. According to the report, approximately 12,200 homes changed ownership across Hungary in March, while housing-purpose mortgage loans were concluded with a total contractual value of €310 million (HUF 125 billion)

Duna House published its estimates for December 2024, which show that 10,231 residential properties changed hands in Hungary and HUF 105 billion in contracted housing mortgage loans were realised. The 125,000 housing transactions estimated for the whole of last year represent an annual increase of 18%, while the more than HUF 1,300 billion in loans outstanding represent an annual increase of 123%.

Real estate brokerage Duna House estimates that 9,754 residential properties changed hands, up 21% year on year, and that HUF 112 billion worth of housing mortgages were taken out in September 2024 in Hungary, more than double (+106%) of the base period's data. The number of transactions in the first nine months of the year shows a nearly 40% yr/yr increase.

The number of transactions this year is likely to catch up with last year's results, brokerage firm Duna House reports. 

In June 2023, only 7,120 residential properties changed hands in Hungary, according to the the monthly Transaction Number Estimate (DH-TB) of Duna House Group. This is a very low number again, so even though May was stronger, it seems that buyers are still waiting. We last saw so few sales in the first half of this year in 2014.

After several months of declining the number of residential property transactions concluded in Hungary has risen in May. Mortgage lending also showed signs of recovery, brokerage firm Duna House reports. 

Transactions have increased but the general mood remained very cautious across all regions of the country, Duna House Group (DHG) reports.

There are several factors which put a break on the revival of the housing markets. Property Forum asked Guy Dymschiz, Co-Founder and Co-CEO of Duna House Group, active in Hungary and Poland, about the necessary steps from the states and the developers to overcome the mounting difficulties.

December was the weakest month in 2022 in terms of sales and loans taken out to buy homes, local brokerage firm Duna House (DH) reports.