Duna House Group Closes 2020 with All-Time High Volumes

Duna House Group reports to have been out of the COVID-crisis by the fourth quarter of 2020.

Besides the Group's real estate brokerage arm that reached new highs in Q3 2020 and grew by 13% year-on-year in the next quarter, the loan brokerage business line also reached new records with 34% year-on-year growth.

A summary by the Group highlights that 2020 has shown the strength of the diversified operations, while Q4, in particular, showed the growth potential in the foreign businesses: both the Polish and Czech operations reached historic record volumes in all business segments during the quarter.

In Hungary, the residential real estate market started the year at last year's levels, then dropped drastically in the second half of March as a result of curfew restrictions of the COVID-19 pandemic, resulting a 67% year-on-year decline in the last week of the month. By the end of May volumes closed back to last year’s levels. The Group’s Hungarian franchise real estate brokerage network reported a 9% year-on-year increase compared to Q4 2019, reaching a total commission volume of HUF two billion this quarter. The volume of the own offices segment is 28% lower, than it was in Q4 2019. Lending ended the year in stellar performance, quarterly record volume of HUF 23 billion.

In Poland, COVID-19 hit the Group in a strong organic growth phase, so although the restrictions started a few days earlier than in Hungary, volumes decreased to a lesser extent in Q2 2020 on a year-on-year basis. Following the rebound in Q3 2020, the commission incomes of the Polish franchise network reached a new record in Q4, exceeding the Q4 2019 levels by 28%. The Polish own offices were able to continue their growth path with 11% year-on-year increase in Q4 2020. With a HUF 10 billion volume increase from the local lows of Q3 2020, Duna House Group's financial intermediary business line grew by 58% year-on-year reaching HUF 49.2 billion new record in Poland.
Besides the two largest markets of the Group, the Czech operations had outstanding performance reaching record highs with double-digit growth both in franchise and own office real estate volumes.