Real estate market: housing is selling at a fast pace

High interest in the real estate market

High demand for homes for sale, to the extent that sellers are often forced to block their phone numbers due to constant enquiries. Bidding by buyers has also become commonplace, driving up market prices significantly.

Market Analysis

Laszlo Balogh, senior analyst at ingatlan.com, says that the price rises started in early 2024, accelerating particularly in the summer. After the low activity in 2023, falling inflation and stronger demand contributed to the market recovery.

The expert stressed that the expected demand in 2025 is also priced in, and lower interest rates on renewable government bonds have made real estate investment more attractive. Although demand is expected to pick up in the first half of 2024, prices could remain steadily high.

Market trends and statistics

• The national housing market saw an 8 percent increase in demand compared to the same period last year, with a total of 340,000 telephone enquiries recorded.
• The number of listings increased, but supply still decreased as demand growth outpaced sellers' appetite.
• National supply has fallen by more than 10 percent, with fewer than 130,000 properties currently on the market for sale.

Regional differences

Market activity is not uniform across the country. In Budapest, districts VI, VII, VIII and IX have seen a 36 percent increase in demand, while suburban districts have seen a smaller but significant rise. In rural areas, such as Baranya, Békés and Hajdú-Bihar counties, the increase in demand is lower, at 10-15 percent, although the latter are expected to see a pick-up due to Schengen accession.

Demand for new housing is up 80 percent, indicating growing investor interest.

Future expectations

Experts predict that the number of housing transactions could reach 140-150,000 in 2025, a significant increase compared to 2023 and 2024.

Source: hvg.hu