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Duna House Q1 earnings climb on real estate market rebound

Residential

Photo by Fabio Balbi / Shutterstock.com

First-quarter after-tax profit of listed Hungarian real estate broker Duna House rose 9% year-on-year to EUR 292 million, supported by a market recovery, state news wire MTI says, citing an earnings report released by the company.

Duna House noted that commission volumes at its real estate brokerage businesses in Hungary and Poland, rose by 30% and 60%, respectively. It added that the residential property market in Hungary started the year at levels "not seen for ten years", thanks to state subsidies and changing demand due to the pandemic.

Net sales revenue edged up 3% to HUF 2.54 billion, but operating profit climbed 21% to HUF 370 mln.

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