Hungary home sales fall 3% in January

Residential

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Home sales in Hungary fell 3.3% year-on-year to 10,815 in January, news wire MTI reports, citing an estimate by listed real estate broker Duna House.

 Duna House said the number "corrected" from the base period but was up 8.5% from the same month in 2020.

The broker augured a "strong start" to the year as demand picks up in February and March.

Duna House estimated mortgage outlays reached HUF 100 bln in January, up from HUF 59 bln in the same month a year earlier.

It said the effect of the National Bank of Hungary's tightening cycle is not impacting mortgage volume "strongly" for the time being, but noted a decline in the number of new loan applications.

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