it offers, but it also constitutes a significant share of many people’s wealth. This is particularly true in the case of Hungary, as the country has
, with over 90 percent of the population owning property as of 2022. However, investors turning their attention to real estate and increased activity on the market can easily lead to skyrocketing prices.
The office market remains a leading segment
Office properties continue to dominate the Hungarian commercial real estate market, despite lower investment volumes recorded over the past years. The
construction production value of new office buildings peaked in 2022 at 192 billion forints, which equals approximately 490 million euros.
Investments in the office market peaked at 972 million euros in 2021, however, this figure saw a decrease of approximately 63 percent in 2022. In the same year,
prime offices benefited from approximately 905 million euros worth of investments, compared to nearly 1.3 billion euros in 2021.
Residential real estate prices continue to increase
The Hungarian residential real estate market has been characterized by
rapidly rising house and apartment prices over the past few years, with the house price index peaking in 2023. Reasons behind the phenomenon include inflation, high investor demand due to low interest rates, subsidies for families to purchase a new house, growing material costs, and labor shortage.
In September 2023, for the first time,
Hungarian towns accounted for the highest number of housing market transactions, followed by rural municipalities included in the family housing subsidy scheme. Budapest came third in the ranking with 2.44 thousand transactions recorded in the same month.
In Budapest,
investment-purpose residential real estate purchases peaked in December 2022 at over 50 percent and totaled 36 percent in September 2023. As for the Hungarian countryside, the figure peaked at 35 percent in February 2023 and by September it decreased to 23 percent.
This text provides general information. Statista assumes no
liability for the information given being complete or correct.
Due to varying update cycles, statistics can display more up-to-date
data than referenced in the text.
