Will Budapest real estate market boom in 2024?

The real estate market in Hungary saw an upswing in the first two months of 2024, with a rise in both property supply and buyer demand. We have reason for optimism for the rest of the year, according to one expert.

Both supply and demand in the housing market surged in March 2023. The market was characterised by a 16% annual increase in demand compared to 2023, reports Portfolio. In contrast to March 2023, 8% more apartments were offered for sale, which represents a 40% increase compared to 2022.

Overall, the Hungarian real estate market has been producing commendable figures this year. January 2024, for instance, witnessed a turnover that was 43 percent higher than a year before. Moreover, the amount of total mortgage loans showed an 80 percent growth.