Older Housing Prices Could Slow This Year

Residential

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Prices for more energy-intensive, less modern housing could fall, and the overall rate of price increases could slow significantly in 2023, napi.hu reports. 

According to experts interviewed by the daily conservative Magyar Nemzet [Hungarian Nation], the demand for rental housing may increase because more people will not be able to buy their own homes. 

At the same time, maintaining and extending family support options could help many. These financial support options include the village CSOK and baby loan programs. 

"The real estate market reached a turning point last year. In addition to the gradually declining number of sales, we have seen a slowdown in the market, but this restraint has not yet been reflected in the change in property prices until the end of the year. This trend is expected to continue in 2023," Károly Benedikt, head of analysis at Duna House, told the daily newspaper. 

According to Benedikt, the number of apartments that will change hands this year is much lower than last year's 125,000 sales, at around 90,000-110,000.

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