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Real estate market activity almost back at 2019 levels

Real estate market activity in February was almost as high as in the same month of 2019, with more than 13,000 sales conducted over the course of the month, real estate broker Duna House says.

Sales were nearly 2% higher compared to the same period in 2018, and 3% lower compared to February 2019.

Duna House expects the spring to bring about a slight increase in sales, which will result in a stable, balanced real estate market, unless the economic and epidemiological circumstances change the fundamental market conditions.

In terms of prices, brick apartments continue to show an upward trend in all regions. The price of panel apartments went down slightly in Eastern Hungary and Budapest. Homebuyers were able to get a discount of 8-10% compared to guide prices, higher than the previous month, according to Duna House.

Selling time is still higher than last year, as an average of three months are needed to successfully sell a property. The proportion of first-time homebuyers has increased both in Budapest and in the countryside. Their share currently stands at 24% in the capital and 28% in the countryside.