Hungary’s residential real estate market continues to outpace the European Union, with home prices up 12.1% year-on-year and 5.2% quarter-on-quarter in Q1 2025, according to preliminary figures from the Hungarian Central Statistical Office (KSH).
New home prices rose 2.5% compared to Q4 2024, while used homes surged by 5.6% during the same period. On an annual basis, used homes saw a 12.5% price increase, outpacing new homes, which recorded a 9.5% rise.
Despite the ongoing price surge, housing construction has declined significantly
Only 2,704 new homes were built in Q1 2025, down from 4,586 in the final quarter of 2024. The number of building permits also fell, from 5,943 to 5,651 over the same period. However, when compared year-on-year, permits rose by 25%, while completed constructions fell by 3%, indicating possible future supply pressure.
According to Eurostat, Hungary maintains its position as the European Union’s leader in housing inflation. Since 2010, Hungarian home prices have increased by 260%, more than tripling over 15 years. In contrast, the EU-wide average price growth over the same period was just 58%.
