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Duna House commissions revenue drops 1/3 on pandemic impact

Second-quarter commissions revenue of listed real estate broker Duna House fell 33% year-on-year to HUF 1.89 billion as lockdowns to contain the spread of the novel coronavirus caused business to slow, state news wire MTI reports, citing a preliminary report released by the company.

In Hungary, commissions revenue declined 36% to HUF 1.47 bln. Commissions revenue dropped 16% to HUF 0.37 bln in Poland.

Duna House noted that the real estate market had "stabilized" by the end of May and business volume in June was similar to that in the same period a year earlier. In terms of lending, Duna House said June-July are expected to be "the deepest point".

Duna Houseʼs intermediated loan volume climbed 16% year-on-year to HUF 57.13 bln in Q2.

Intermediated loan volume rose at the same pace in both Hungary and Poland, to reach HUF 19.44 bln and HUF 37.69 bln, respectively.

Duna Houseʼs lending business in Poland has been supported by its recent acquisition of Alex T Great.