Housing prices increased by 15.2 percent in Hungary last year, up from 14.6 percent in 2017, according to the National Bank. In Budapest, prices were up 22.9 percent, a significant jump from the 15.8-percent growth reported in 2017. “Despite the dynamic increase, as a national average housing prices are still below the level justified by the economic fundamentals, while prices in Budapest have exceeded that level by some 15 percent, therefore the risk of overvalued house prices in the capital has increased significantly. However, if we break down the housing market conditions of the capital, we can discover meaningful differences,” the bank writes in its housing market report.
