Key information about House Prices Growth

• Hungary house prices grew 12.2% YoY in Sep 2024, following an increase of 12.9% YoY in the previous quarter.
• YoY growth data is updated quarterly, available from Mar 2008 to Sep 2024, with an average growth rate of 8.3%.
• House price data reached an all-time high of 24.9% in Jun 2022 and a record low of -7.8% in Dec 2009.

The real estate transaction value in the real estate market in Hungary was modeled to be 11.7 billion U.S. dollars in 2024. Between 2017 and 2024, the real estate transaction value rose by 3.81 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend. The real estate transaction value will steadily rise by 1.72 billion U.S. dollars over the period from 2024 to 2029, reflecting a clear upward trend.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Real Estate.

The report covers the Hungary real estate market overall competitive landscape, government role and regulations, trends and developments, market segmentation.

The number of transactions made on the Hungarian housing market over the observed years peaked in 2018 at nearly 164,000 transactions. As of 2023, the number of transactions totaled approximately 102,000, marking a considerable decrease compared to the preceding year.

Housing Index in Hungary increased to 352.86 points in the second quarter of 2025 from 349.19 points in the first quarter of 2025. This dataset provides - Hungary House Price Index - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Companies operating in the third-party real estate industry have had to navigate numerous economic headwinds in recent years, notably rising interest rates, spiralling inflation and muted economic growth. Revenue is projected to sink at a compound annual rate of 0.6% over the five years through 2025, including an estimated jump of 1.2% in 2025 to €207.6 billion, while the average industry profit margin is forecast to reach 35.1%. Amid spiralling inflation, central banks across Europe ratcheted up interest rates, resulting in borrowing costs skyrocketing over the two years through 2023. In residential markets, elevated mortgage rates combined with tightening credit conditions eventually ate into demand, inciting a drop in house prices. Rental markets performed well when house prices were elevated (2021-2023), being the cheaper alternative for cash-strapped buyers. However, even lessors felt the pinch of rising mortgage rates, forcing them to hoist rent prices to cover costs and pricing out potential buyers. This led to a slowdown in rental markets in 2023, weighing on revenue growth. However, this has started to turn around in 2025 as interest rates have been falling across Europe in the two years through 2025, reducing borrowing costs for buyers and boosting property transactions. This has helped revenue to rebound slightly in 2025 as estate agents earn commission from property transactions. Revenue is forecast to swell at a compound annual rate of 3.7% over the five years through 2030 to €249.5 billion. Housing prices are recovering in 2025 as fixed-rate mortgages begin to drop and economic uncertainty subsides, aiding revenue growth in the short term. Over the coming years, PropTech—technology-driven innovations designed to improve and streamline the real estate industry—will force estate agents to adapt, shaking up the traditional real estate sector. A notable application of PropTech is the use of AI and data analytics to predict a home’s future value and speed up the process of retrofitting properties to become more sustainable.

The Direct Real Estate Activities industry have come up against numerous headwinds in recent years, ranging from the COVID-19 outbreak in 2020 to the high base rate environment in the years since, which has inflated borrowing costs for potential buyers. This is a sharp contrast to the ultra-low interest environment seen over the decade following the 2008 financial crisis. Still, revenue is forecast to edge upwards at a compound annual rate of 0.6% over the five years through 2025 to €622.9 billion, including an anticipated rise of 0.8% in 2025. Despite weak revenue growth, profitability remains strong, with the average industry profit margin standing at an estimated 18.9% in 2025. Central banks across Europe adopted aggressive monetary policy in the two years through 2023 in an effort to curb spiralling inflation. This ratcheted up borrowing costs and hit the real estate sector. In the residential property market, mortgage rates picked up and hit housing transaction levels. However, the level of mortgage rate hikes has varied across Europe, with the UK experiencing the largest rise, meaning the dent to UK real estate demand was more pronounced. Commercial real estate has also struggled due to inflationary pressures, supply chain disruptions and rising rates. Alongside this, the market’s stock of office space isn’t able to satisfy business demand, with companies placing a greater emphasis on high-quality space and environmental impact. Properties in many areas haven't been suitable due to their lack of green credentials. Nevertheless, things are looking up, as interest rates have been falling across Europe over the two years through 2025, reducing borrowing costs and boosting the number of property transactions, which is aiding revenue growth for estate agents. Revenue is slated to grow at a compound annual rate of 4.5% over the five years through 2030 to €777.6 billion. Economic conditions are set to improve in the short term, which will boost consumer and business confidence, ramping up the number of property transactions in both the residential and commercial real estate markets. However, estate agents may look to adjust their offerings to align with the data centre boom to soak up the demand from this market, while also adhering to sustainability commitments.

Over the observed period, the largest number of housing market transactions in Hungary was recorded in municipalities included in the family housing subsidy sceme. In September 2023, the number of housing market transactions in Budapest reached 2.44 thousand, marking a decreased compared to the preceding month.

Real Estate Market Survey: NP: Next 12 Mth: Western Hungary: Residential Unit data was reported at 3.000 % in Apr 2018. This records an increase from the previous number of 2.000 % for Jan 2018. Real Estate Market Survey: NP: Next 12 Mth: Western Hungary: Residential Unit data is updated quarterly, averaging 1.850 % from Jan 2006 (Median) to Apr 2018, with 44 observations. The data reached an all-time high of 7.000 % in Oct 2017 and a record low of -1.500 % in Apr 2009. Real Estate Market Survey: NP: Next 12 Mth: Western Hungary: Residential Unit data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

The highest investment volume on the Hungarian hotel real estate market was recorded in 2019 at over 240 million euros. In 2022, this figure totaled 82 million euros, marking a considerable decrease compared to the previous year.

Real Estate Market Survey: EP: Next 12 Mth: Western Hungary: Warehouse data was reported at 2.000 % in Jan 2018. This stayed constant from the previous number of 2.000 % for Oct 2017. Real Estate Market Survey: EP: Next 12 Mth: Western Hungary: Warehouse data is updated quarterly, averaging 0.000 % from Jan 2006 (Median) to Jan 2018, with 43 observations. The data reached an all-time high of 5.000 % in Jul 2016 and a record low of -9.000 % in Apr 2009. Real Estate Market Survey: EP: Next 12 Mth: Western Hungary: Warehouse data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

Real Estate Market Survey: EP: Next 12 Mth: Eastern Hungary: Building Plots data was reported at 1.000 % in Oct 2018. This records a decrease from the previous number of 3.000 % for Jul 2018. Real Estate Market Survey: EP: Next 12 Mth: Eastern Hungary: Building Plots data is updated quarterly, averaging 3.000 % from Jan 2006 (Median) to Oct 2018, with 38 observations. The data reached an all-time high of 10.000 % in Apr 2016 and a record low of -5.000 % in Oct 2014. Real Estate Market Survey: EP: Next 12 Mth: Eastern Hungary: Building Plots data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

Real Estate Market Survey: NP: Next 12 Mth: Eastern Hungary: Residential Unit data was reported at 2.000 % in Oct 2018. This records a decrease from the previous number of 3.000 % for Jul 2018. Real Estate Market Survey: NP: Next 12 Mth: Eastern Hungary: Residential Unit data is updated quarterly, averaging 1.150 % from Jan 2006 (Median) to Oct 2018, with 46 observations. The data reached an all-time high of 7.000 % in Apr 2017 and a record low of -3.000 % in Oct 2011. Real Estate Market Survey: NP: Next 12 Mth: Eastern Hungary: Residential Unit data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

The number of housing units constructed in Hungary fluctuated over the period under consideration. In 2020, over 28,000 dwellings were built, which was the highest figure recorded over the observed time. In the same year, the construction production value of residential buildings totaled 469 billion forints. However, by 2023, the number of houses built in the country decreased to approximately 18.6 thousand. Houses’ characteristics Houses constructed in Hungary have a relatively large floor space, measuring at 94 square meters on average in 2023, while the highest figure was recorded at 107 square meters in 2012. The vast majority of dwellings are supplied with piped water, reaching 97.5 percent in 2023, while in the same year, the share of dwellings with a bathroom or lavatory totaled under 96.3 percent.  House and apartment prices The Hungarian real estate market has been characterized by increasing prices lately. It comes as no surprise, that the country’s capital, Budapest has the most expensive housing on the market. In 2023, the average price of new apartments per square meter was the highest in District V, totaling 2.81 million euros. In comparison, the average square meter price of new apartments reached only 0.62 million euros in District XXI.

Hungary Real Estate Market Survey: EP: Next 12 Mth: Warehouse data was reported at 1.300 % in Jan 2018. This records a decrease from the previous number of 3.000 % for Oct 2017. Hungary Real Estate Market Survey: EP: Next 12 Mth: Warehouse data is updated quarterly, averaging 0.000 % from Jan 2006 (Median) to Jan 2018, with 43 observations. The data reached an all-time high of 3.700 % in Jul 2017 and a record low of -5.000 % in Apr 2009. Hungary Real Estate Market Survey: EP: Next 12 Mth: Warehouse data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

Other real estate investment funds accounted for the biggest share of investments made on the Hungarian commercial real estate market in 2022, measuring at 32 percent. Domestic property investment companies accounted for a further 28 percent of the investment volume.

Hungary Real Estate Market Survey: EP: Next 12 Mth: Building Plots data was reported at 2.000 % in Oct 2018. This records a decrease from the previous number of 4.000 % for Jul 2018. Hungary Real Estate Market Survey: EP: Next 12 Mth: Building Plots data is updated quarterly, averaging 3.850 % from Jan 2006 (Median) to Oct 2018, with 38 observations. The data reached an all-time high of 12.000 % in Apr 2016 and a record low of -3.000 % in Apr 2009. Hungary Real Estate Market Survey: EP: Next 12 Mth: Building Plots data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.

Among the factors that influence mortgage interest rates are inflation, economic growth, monetary policies, the bond market, the stability of lenders, and the overall conditions of the housing market. It can be seen that the mortgage interest rate in Hungary decreased overall with some fluctuation until the last quarter of 2021. Following an increase, it reached a value of **** percent as of the second quarter of 2023. This was part of an overall trend of increasing mortgage interest rates in Europe.

The size of the Europe Office Real Estate Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4.00">> 4.00% during the forecast period. The Europe office real estate market refers to the segment of the property market focused on the development, leasing, and sale of office spaces across European countries. This market includes a wide range of properties, from high-rise office buildings in major cities to smaller office spaces in suburban areas. The demand for office real estate is influenced by various factors, including economic growth, corporate expansion, and trends in workforce dynamics. In recent years, the rise of hybrid and remote working models has reshaped the office real estate landscape, leading to a greater focus on flexible workspaces, coworking spaces, and adaptable office layouts that accommodate changing business needs. Key markets for office real estate in Europe include major business hubs such as London, Paris, Frankfurt, and Amsterdam, where demand is driven by multinational corporations, financial institutions, and tech companies. These cities tend to have higher rental rates and more competitive markets due to the concentration of businesses and economic activity. Secondary cities and regional markets are also growing, offering more affordable office space and appealing to companies looking to decentralize or relocate to less expensive areas. Recent developments include: May 2023: CBRE Group, Inc. announced that its property management group has formed a global strategic partnership with Deepki that will bring Deepki Ready, one of the world's most extensive landlord-focused real estate sustainability data intelligence platforms to the commercial properties CBRE manages for investors around the world. CBRE has been using Deepki for properties it manages in the United Kingdom for more than two years; Deepki is now being deployed across CBRE-managed properties throughout Continental Europe, with plans to begin using Deepki in the Americas and the Pacific region as the next step in a global rollout., April 2023: Global real estate professional services firm JLL and iO Partners announce that JLL will transfer its existing Leasing, Capital Markets, Valuation Advisory, Consulting, and Project Management delivery businesses to iO Partners in the Czech Republic, Hungary, Romania, and Slovakia. The two companies have formed a preferred partnership enabling them to service clients in the Czech Republic, Hungary, Romania and Slovakia. The agreement will give iO Partners a strong presence in these four countries with experienced employees, efficient systems and processes, and a strong ongoing partnership with JLL.. Key drivers for this market are: Economic Growth, Urbanization and Urban Renewal; Foreign Investments in the Sector. Potential restraints include: The Uncertainty Surrounding Brexit. Notable trends are: Offices Remain a Core Sector.

Hungary Real Estate Market Survey: EP: Next 12 Mth: Budapest: Retail Space data was reported at 3.000 % in Oct 2018. This stayed constant from the previous number of 3.000 % for Jul 2018. Hungary Real Estate Market Survey: EP: Next 12 Mth: Budapest: Retail Space data is updated quarterly, averaging 0.400 % from Jan 2006 (Median) to Oct 2018, with 46 observations. The data reached an all-time high of 5.000 % in Apr 2017 and a record low of -5.000 % in Jul 2009. Hungary Real Estate Market Survey: EP: Next 12 Mth: Budapest: Retail Space data remains active status in CEIC and is reported by GKI Economic Research Co.. The data is categorized under Global Database’s Hungary – Table HU.S002: Real Estate Market Survey.