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.
There were a little more than 10,000 transactions on the residential market last month which is a much anticipated good sign of slow recovery, Duna House confirmed adding that this level had been observed last June.
The number of transactions has been gradually increasing since the beginning of Spring this year. In May it was 31% higher than in March and 50% higher than in April but the year-on-year figures still show a 19% difference.
Buyers showed more willingness to take out mortgages, and approximately HUF 48 billion were involved. This represents a 14% increase however it is still much lower (69%) than it was a year ago.
