Residential property market activity strong in June

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A total of 13,615 residential property transactions took place in Hungary in June 2021, according to estimates by real estate broker Duna House.

Compared to the previous month, the residential property market started the summer with a slight decrease, but still with a relatively active market. The number of transactions estimated by Duna House still marks the strongest June market in the last five years, representing a 29% increase compared to the same period in 2019, and a 22% increase compared to June 2020.

The market could therefore close the first half of 2021 with a total of nearly 83,000 sales, also significantly outperforming the first half of the last five years, Duna House says.

Since March, the domestic mortgage market has been on a strong upswing, and this trend is set to continue. According to MNB data, May saw a record-breaking month, with Hungarian households applying for mortgages worth more than HUF 120 billion.

Duna House Pénzügyek estimates that the market closed June with a volume of HUF 115 billion, also an outstanding result and the second strongest month of the year.

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