Strong January Figures on the Property Market

The Hungarian residential property market started the new year with the strongest January figures of the past five years.

The 11,185 transactions estimated by Duna House property agency tells the story of a 13% stronger turnover than in January 2020. The increase in demand had made itself felt in the data recorded by the property agency right in the first weeks of the new year, and part of it resulted in actual sales transactions comparatively quickly, already in January – probably on account of the expectations that had built up at the end of 2020.

In view of the government home subsidies introduced recently Duna House experts continue to expect a brisk residential property market that is well positioned to close the year with 130-150, 000 transactions, slightly more than in the previous year.

As far as the property mortgage market is concerned, Duna House Finances estimates a volume of HUF 73-75 billion, which may be HUF 5 billion less than the figure recorded in January 2020 (HUF 80 billion), but is still a significant increase of 17% compared to the same period of 2019 (HUF 63
billion). The number of inquiries addressed to financial agencies in respect of available government home subsidies also reflects a very active January market.