In October, 12,200 properties changed hands in Hungary, a 4 percent decrease on a monthly basis and a 7 percent decrease year-on-year, according to an estimate based on Duna House (DH) ‘s own data, the company told MTI on Monday. Almost 110,000 transactions estimated so far this year are 15 percent lower than the first 10 months of 2019.
According to the analysis, the decline was caused by the expectations surrounding several government announcements that also affected the real estate market, however, the content of the announcements will have a positive impact on both the real estate and credit markets in the medium and long term. Duna House also said that the mortgage market will continue to show a balanced picture after the third quarter closure. Based on market data, the company estimates the volume of residential mortgage loans to be HUF 75 billion for October, similarly to September, which is the same decrease as the share of real estate market transactions .
