Hungarian National Bank is analysing domestic real estate market
According to the Hungarian National Bank (MNB), the property prices in Budapest increased by 14.1% in Q4 2019 on a yearly basis, at the same time they decreased by 2.0% on a quarterly basis. The Central Bank hasn’t recorded a decline of the property prices since Q4 2013. The nominal annual growth rate of property prices in Budapest decreased from 21.5% in Q4 2019 to 14.1% in Q3 2019. In Budapest, a decrease of residential prices by 2.0% on a quarterly basis is noticed.
In most regions of Hungary, real estate prices decreased on a quarterly basis. The nominal annual growth of real estate prices decreased to 18.5% in Q4 2019. The prices have declined though the residential stock in the regions is often more modern than in the capital.
Nevertheless, an increase of the property prices on the annual basis was recorded in all regions of the country. The most significant price increase was noticed in Central Transdanubia, Northern Hungary, and the Northern Great Plain. In these regions, an increase of property prices has exceeded 20% compared to Q4 2018. In the southern regions, in the south of Transdanubia, in the west of Transdanubia and Pest, property prices rose annually by 19.7%, 16.8%, 15,0% and 13.1%, respectively.