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The latest Hungarian house price index for Q1 2023, which includes preliminary data, shows that the sharp fall in the number of sales transactions has not yet been followed by a similar decline in prices. The preliminary figures published by the Central Statistical Office (KSH) show prices stagnating in nominal terms: after a 2% drop in the previous quarter, prices have now risen by 2%, essentially returning to their Q3 2022 level. But what does this mean in relation to market fundamentals and what could be in store for the rest of the year?

Realized prices of flats in Slovakia rose by more than 10 % in Q4 2021. Prices of sales recorded in the cadastre of the real estate continued to grow dynamically at the end of 2021, dwellings were sold more expensive by more than 10 % year-on-year, and prices rose by 3.6 % compared to the summer months, the Statistical Office of the Slovak Republic announced.

The price of newly built homes in Budapest rose more than 8% in the three months between August and November and the average price per square metre is now nearly HUF 1.1 million (€3,000), Eltinga’s latest Budapest Housing Report shows. Below is a breakdown of new home prices by district.

Housing prices rose just 0.5% in Q2 2021 in Hungary, according to the Central Statistical Office’s (KSH) latest Housing Price Index. Year on year, the increase was 11.5% in Q2, partly because of a low base as prices fell slightly between April and June 2020 due to pandemic-related uncertainty.

Prices for new homes will grow as developers are facing higher construction costs and deal with surging inflation, mentioned speakers during the residential market panel of SEE Property Forum 2021, Property Forum's annual event in Bucharest.

House prices in Romania went up by 2% in the fourth quarter of 2020 compared to the same quarter of the previous year, while across the European Union (EU) the average growth rate was 5.7%, according to Eurostat.

Between 2010 and the second quarter of 2011, house prices and rents in the EU followed similar paths. Since the second quarter of 2011, they have followed very different paths: while rents increased steadily throughout the period up to the fourth quarter of 2020, house prices have fluctuated significantly, Eurostat data reveals.  

In Q4 2020, dwellings' prices in Slovakia increased by 7.3 % compared to Q4 2019, while prices of new dwellings increased by 6,6 % and prices of used dwellings rose by 7.8 %, the Statistical Office of the Slovak Republic announced.

In Q3 2017 the largest increase in house prices was registered in the Czech Republic. According to fresh data published by Eurostat, Hungary also saw double-digit growth, while prices rose by 5-10% in Bulgaria, Slovenia, Slovakia and Romania