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Housing price growth in Hungary eases in Q3

Housing prices in the third quarter grew by 2.8 percent from the previous one, the Central Statistical Office (KSH) said on Friday. In Q2 prices were up 3.4 percent.

Prices of new builds edged up 0.6 percent, while resale prices rose by 3.2 percent on a quarterly basis.

Year on year, new build prices grew by 12.6 percent, while resale home prices were up 14.8 percent, translating into a 14.5 percent annual rise in the third quarter.

Estimates from preliminary data show that transaction numbers were up an annual 17 percent in Q1-Q3 2021, at their pre-pandemic level.

New builds averaged 37.8 million forints in Q3, more than double resale home prices, which averaged 18.7 million.

Per square metre, new builds cost 697,000 (EUR 1,592) forints on average, while resale homes went for 300,000 forints.

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