Property market has potential for further growth

In December 2024, 10,230 residential properties changed hands across the country, according to estimates by Duna House. The volume of mortgage loans totalled 105 billion forints (just over 250 million euros). The estimated 125,000 residential sales for the year as a whole show an increase of 18% compared to 2023. The number of transactions in December represents a decrease of only 9% compared to the previous month. This is a more moderate decline than the usual year-end slowdown. Compared to December 2023, the number of transactions increased by 31%. July proved to be the most active month of 2024 with 11,540 sales.

The 124,500 transactions estimated for 2024 exceed the Central Statistical Office’s data for 2023 by 18%. A further increase in property sales and prices of 10-20% is expected for 2025. Based on data from the central bank for January to October and estimates from the credit broker Credipass for the end of the year, the credit market realised a volume of more than 1,300 billion forints. This is an increase of 123% compared to 2023, and the volume is expected to grow by a further 10% in 2025.