Hungary’s housing market showed clear signs of cooling in the second quarter of the year, with both price growth and buyer demand losing momentum, according to the latest analysis by Zenga.hu, the Budapest Business Journal reports.
Nationwide listing prices rose by 14 per cent compared to the same period last year, a notable slowdown from the 20 per cent annual increase recorded in the first quarter. On a quarterly basis, prices were almost unchanged, edging up by just 0.3 per cent.
The average asking price across Hungary now stands at 985,000 HUF (~$3,150) per square metre. In the capial city of Budapest, the most expensive districts continue to command more than 2.2 million HUF ($7,100) per square metre, while average listing prices in Debrecen and Szeged have climbed above 1 million HUF ($3,100) per square metre.
Price trends varied greatly across the country.
Budapest’s annual growth rate eased to 8 per cent, while District XII saw average listing prices decline year on year, largely because a greater number of older properties requiring renovation entered the market. Meanwhile, stronger price increases were recorded in Szolnok, Miskolc, as well as Borsod-Abaúj-Zemplén and Jász-Nagykun-Szolnok counties, where a larger share of newly built homes boosted average asking prices.
The report also noted that market activity softened during the second quarter. Buyer demand weakened amid election-related uncertainty, seasonal factors, and the diminishing impact of the Home Start programme, pointing to a broader slowdown in Hungary’s housing market.
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