No Significant Reduction on the Real Estate Market

In its monthly Transaction Number Estimate and Mortgage Forecast, the Hungarian real estate firm Duna House shows that in April 2021 13,511 property transactions were concluded and residential mortgage contracts worth HUF 92-93 billion were signed in the whole of Hungary.

The report states that following the exceptional rally of Q1 2021 property market activity settled back to normal in April.
The transaction volume of 13,511 estimated by Duna House perfectly corresponds to the market
cyclicity and is, according to experts, an indication that there was no significant reduction of market
activity after the strong start of the year. The current figure shows a negligible, 5% drop compared to 2019 and is more than twice as high as the rock bottom the market hit in April 2020 on account of
the first wave of the COVID pandemic. For May and June Duna House expects to see brisk activity
from both sellers and buyers so the market may close the first half of the year with 75-80 thousand
sales transactions in total.
As far as the mortgage market is concerned, the strong figures seen in March persisted. Similarly to
the previous month, Duna House Finances forecast a market volume of HUF 92-93 billion, 26% and
almost 10% higher than the factual figures published by the National Bank of Hungary for April 2020 and April 2019, respectively. Duna House expects that not unlike the residential property market, both the property mortgage market and state home subsidies will continue to report strong figures for the second quarter.