Following an increase in the previous quarter, house prices fell by 1.4% in Budapest in the fourth quarter of 2020. Prices were 0.7% lower in the capital compared with the same period a year earlier.
Down 0.4%, house prices also fell in rural cities in 2020 Q4. The annual increase in prices slowed from 8.7% in the previous quarter to 7.4% in these settlements, according to a report by the National Nank of Hungary (MNB).
In municipalities, house prices fell by 3.1% quarter on quarter. As a result, the annual increase in prices slowed from 16.7% in the previous quarter to 9.5%.
Hungarian house prices fell for the first time since the end of 2013, by some 1.2% on average, in 2020 Q4. The annual rate of increase moderated from 9.2% in the previous quarter to 6.6%.
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