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MNB: Housing market slowed before coronavirus

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The novel coronavirus epidemic hit a housing market that had already slowed down, said Tamás Nagy, head of department at the National Bank of Hungary (MNB), writes penzcentrum.hu.

Image by Pexels

Among other things, the MNB’s latest housing survey showed that at the end of 2019, house prices were already stagnant nationwide, and a fall in prices was even observed in the capital.

Compared to this, house price dynamics of 12.3% were observed nationwide by the end of the first quarter, while in Budapest it was only 9.5%.

Moreover, in April this year, the average number of flats in Budapest was 6% higher than in April 2019.

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