Duna House Group: Powerful Start to 2025

Real-estate intermediation volumes reached again an all-time high record, growing 15% y-o-y and +2% q-o-q. Financial intermediation volumes hovered close the record levels of previous quarter with 11% y-o-y growth (-2% on quarterly basis), the real estate broker Duna House has reported on the website of the Budapest Stock Exchange.

Italian loan intermediation volumes grew by 46% year-on-year in Q1 2025, further benefiting from declining interest rates and a successful cooperation with Professione Casa network. Compared to Q4 2024, the volumes decreased by 7%. The y-o-y growth is expected to continue in 2025 as well, mainly thanks to the anticipated expansionary monetary policies of ECB.

In Hungary, both main segments continued a strong growth trajectory on y-o-y basis in the first quarter, driven mainly by lower interest rates and a recovering housing market. The volume of intermediated financial products increased by 27%, comparable to growth in franchise real estate commission revenues which was 28%.

Housing-related government subsidies, housing allowance from employers used for loan repayments, state-subsidized credit for young Hungarian blue-collar workers, and spike in available household cash resources from government bond payments are expected to further support both the real estate and financial intermediary market in 2025.

The subsidised-loan program of Poland expired at the end of 2023 with loan volumes peaking in Q1 2024; consequently, loan and real estate markets declined throughout the first three quarters of 2024. In Q4 2024, however, both segments showed recovery signs which continued also in Q1 2025: volumes in financial
intermediation grew by 5% since last quarter (-20% y-o-y) while the franchise real estate commission only slightly decreased from previous quarter, by 2% (-11% y-o-y).

As banks have begun to lower their margins and no significant further subsidies can be expected in Poland, market-based lending is picking up.