July, Strongest Month on the Real Estate Market This Year

Based on the number of transactions, the previous month was the strongest month on the real estate market this year, surpassing July 2023 and 2022, the real estate broker Duna House announced.

According to the real estate broker's estimate, 11,538 residential properties changed hands in July, which is an increase of 23.7% in monthly comparison and 88.9% in annual comparison. In previous years, this month was weaker than the previous and the following, but this year, the summer slowdown of the real estate market fell on June. The transaction estimate also reveals that in the first seven months of 2024, almost 100,000 sales and purchases took place, while last year the total was barely 140,000.

According to the announcement, the mortgage loan market was less buoyant, with the contract amount of HUF 115 billion for residential mortgage loans being 10% less than in June. The reduction can also be felt in the volume of applications, so the decline in lending may continue in the coming months.