Property 4 November 2024, 2:06pm

Residential property deals boom in Hungary in October

Portfolio

Real estate brokerage Duna House estimates that 10,738 residential properties changed hands, up by nearly 37% year on year, and that HUF 117 billion worth of housing mortgages were taken out in October 2024, 2.3x times (+128%) of the base period's data. The number of transactions in the first ten months of the year shows a nearly 39% yr/yr increase.

Hungary's residential property market closed yet another robust month, with 10,738 transactions concluded in October, according to Duna House estimates.

This marks a 10.1% increase in monthly terms and a 36.7% jump year on year.

According to the real estate brokerage's estimates, this year's residential property transaction figures have already reached 98% of the 105,000 volume reported by the Central Statistical Office (KSH) for last year.

103,000 DWELLINGS WERE SOLD IN THE FIRST ten months OF THE YEAR, a 38.8% year-on-year growth, and a figure PROPORTIONATELY sufficient TO REACH the middle of THE 110,000 TO 130,000 TRANSACTIONS DUNA HOUSE expects FOR THE YEAR.

Thanks to robust interest to sell and buy, the momentum is expected to continue for the rest of the year, and the company's experts forecast an active period in the remaining months of the year.

This is how the first ten months of 2024 look like compared to January-October of the previous three years. The figures in the graph are for October alone.

According to DH data, HUF 112 billion of mortgage loans were contracted in October this year. Compared to the September estimate, the volume shows a 3% growth, and compared to central bank data for the same month of 2013, the segment performed 128% better.

The graph below shows that the 36.7% yr/yr growth in October came on the back of a 20.9% growth in September, and the 10.1% m/m increase comes after a 4.6% m/m growth. (The second graph below just give you a closer look on the past three years.)