Hungary Property News

Hungary transactions up, price slips predicted to halt

Hungary transactions up, price slips predicted to haltResidential property transactions in Hungary reached around 70,000 in the first three quarters of this year, up almost 10% on the same period in 2011, according to a leading broker in the country.
Otthon Centrum (OC), however, has projected a total of only 90,000 transactions by the end of the year, which is similar to last year’s number.

Home sales were up 40% year-on-year in Q1 2012 due to early forex mortgage repayments, OC said in a statement. Later in the year, the number of sales began to fall steadily.

From Q1-Q3, prices in Hungary were still down year-on-year – but the declines are slowing down and are expected to stop within the year, said the company.