Duna House Points to Real Estate Market Turnaround
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Commissions revenue of listed real estate broker Duna House's franchise network fell 36% year-on-year to HUF 2.7 billion in the first quarter, but the company said March data point to a turnaround in a preliminary report published on Tuesday.
March volumes showed a "significantly improving trend" and Duna House said it expects "strong growth" in the coming quarters.
Commissions volume in Hungary dropped 44% to HUF 1.8 bln as interest rates climbed and purchasing power fell. In March alone, volumes were 42% over the average in January-February.
In Poland, commission volume declined 13% to HUF 0.8 bln, but climbed 6% quarter-on-quarter.
Commissions revenue of Duna House's recently acquired Realizza brand in Italy reached HUF 0.1 bln.
Commissions revenue of Duna House's own offices slipped 40% to HUF 0.4 bln.
Brokered loan volume of the group fell 32% to HUF 142 bln. Brokered loan volume reached HUF 98 bln in Italy, HUF 33 bln in Poland, and HUF 11 bln in Hungary.
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