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Housing market in Hungary improves significantly

Staff writer ▼ | May 5, 2016
In 2015, the domestic housing market in Hungary improved significantly, which was associated with a 10 percent rise in house prices, in addition to increasing market turnover.
Hungary houses
Homes in Europe   Low risk level in housing in Hungary
The volume of new housing loans grew by around 50 percent in 2015; however, the stock of housing loans continued to decline at an annual rate of nearly 4.6 percent. The pick-up in the housing market is segmented in several aspects.

On the one hand, it was primarily the market of used dwellings, which improved, while, except Budapest and its agglomeration, the western Hungarian region was practically the only region where an improvement was seen.

As a conclusion, neither the increase in housing prices nor the expansion of new lending can be considered excessive. The risk level is currently low.