Moderate House Price Growth in All Types of Settlements

According to the latest MNB House Price Index figures, the annual rate of house price growth moderated across all types of settlements in 2026 Q3, the National Bank of Hungary (MNB) reports on its website.

In Budapest, following a decrease of 0.8% in the second quarter, house prices rose by 1.9% in the third quarter, with the annual nominal rate of house price growth moderating from 7.5% to 5.3% in the capital. In cities outside Budapest, following a 0.4% increase in the previous quarter, house prices fell by 1.4% in 2026 Q3, slowing the annual rate of house price growth from 16.7% to 8.1%. In villages, following a 3.4% decrease in house prices in 2026 Q2, prices rose by 2.6% in the third quarter, while the annual rate of growth moderated from 7.6% to 4.1%.

House prices in cities declined in most regions outside Budapest in the third quarter. The largest quarterly price decreases were recorded in the cities of the Northern Great Plain (‒3.8%), the Southern Great Plain (‒2.5%) and Western Transdanubia (‒2.2%). House prices in cities fell by 1.9% in Pest County and by 0.7% in Southern Transdanubia, while they remained unchanged in Central Transdanubia in2026 Q3. In the cities of Northern Hungary, however, house prices rose by3.5%, following a substantial decrease of 8.5% in the previous quarter. On an annual basis, house prices increased the most in the cities of Central Transdanubia (+12.9%), while annual house price growth in the cities of the other regions ranged from 5.0% to 9.3%.

According to the aggregate MNB House Price Index, which tracks house price developments at the national level, house prices rose by 0.5% quarter-on-quarter in 2026 Q3, following a decrease of 0.8% in the previous quarter. The annual nominal rate of house price growth slowed from12.4% in the previous quarter to 6.6%, while in real terms, house prices increased by 5.2% year-on-year at the national level.