Hungarian House Price Rise Since 2010 2nd Highest in EU

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House prices in Hungary rose exceptionally quickly between 2010 and Q2 2022, with the rate of price increase being the second highest among EU Member States, according to statistical agency Eurostat.

Over this period, house prices increased in 24 EU Member States and decreased in three.

They more than doubled in Estonia (+196%), Hungary (+168%), Luxembourg (+135%), Latvia (+131%), Lithuania and Czechia (both +130%) and Austria (+121%).

Decreases were recorded in Greece (-23%), Italy (-8%) and Cyprus (-6%), Eurostat notes.

From 2010 until the second quarter of 2022, rents increased by 18% and house prices by 48%.

After a sharp decline between the second quarter of 2011 and the first quarter of 2013, house prices remained more or less stable between 2013 and 2014 in the European Union. After a rapid rise in early 2015, house prices increased faster than rents.

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