Property 13 May 2024, 3:30pm

Residential property transactions jump yr/yr in Hungary in April

Portfolio

Real estate brokerage Duna House estimates that 11,200 residential properties changed hands, and that HUF 105 billion worth of housing mortgages were taken out in April 2024.

The Hungarian property market continued to strengthen, albeit at a lower rate, with a total of 11,200 transactions concluded in April, making it the strongest month so far this year, as estimated by Duna House.

This is how the first four months of 2024 look like compared to January-April of the previous three years.

The April figure marks a mere 1.4% month-on-month increase, but a 65% jump over April 2023.

The mortgage market continued to grow in volume with increasing intensity, with HUF 105 billion of mortgage loans contracted in April this year, according to DH data. The April figure represents an increase of 170% compared to the central bank's (MNB) data for the same period last year and 17% compared to the previous month.

The graph below shows that the impressive 65% yr/yr jump in April came on the back of a 42% growth in March, and the 1.4% m/m increase follows a 2.7% rise in the third month. (The second graph below just give you a closer look on the past three years.)