Real estate in Hungary - statistics & facts

The significance of the real estate market lies not only in the lucrative investment opportunities it offers, but it also constitutes a significant share of many people’s wealth. This is particularly true in the case of Hungary, as the country has one of the highest homeownership rates in Europe, with over 90 percent of the population owning property as of 2022. However, investors turning their attention to real estate and increased activity on the market can easily lead to skyrocketing prices.

The office market remains a leading segment

Office properties continue to dominate the Hungarian commercial real estate market, despite lower investment volumes recorded over the past years. The construction production value of new office buildings peaked in 2022 at 192 billion forints, which equals approximately 490 million euros. Investments in the office market peaked at 972 million euros in 2021, however, this figure saw a decrease of approximately 63 percent in 2022. In the same year, prime offices benefited from approximately 905 million euros worth of investments, compared to nearly 1.3 billion euros in 2021.

Residential real estate prices continue to increase

The Hungarian residential real estate market has been characterized by rapidly rising house and apartment prices over the past few years, with the house price index peaking in 2023. Reasons behind the phenomenon include inflation, high investor demand due to low interest rates, subsidies for families to purchase a new house, growing material costs, and labor shortage. In September 2023, for the first time, Hungarian towns accounted for the highest number of housing market transactions, followed by rural municipalities included in the family housing subsidy scheme. Budapest came third in the ranking with 2.44 thousand transactions recorded in the same month. In Budapest, investment-purpose residential real estate purchases peaked in December 2022 at over 50 percent and totaled 36 percent in September 2023. As for the Hungarian countryside, the figure peaked at 35 percent in February 2023 and by September it decreased to 23 percent.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Flora Medve, Feb 28, 2024

Key insights

Real estate industry revenue in Hungary
11.42bn USD
Home ownership rate in Hungary
90.1%
Investment volume on the office market in Hungary
359m EUR
Get more insights

Editor’s Picks Current statistics on this topic

Mortgage interest rate in Hungary from 1st quarter 2013 to 2nd quarter 2023

Mortgages & Financing

Mortgage interest rate in Hungary Q1 2013- Q2 2023

Construction production value of residential buildings in Hungary from 2010 to 2022 (in million forints)

Building Construction

Construction production value of residential buildings in Hungary 2010-2022

Monthly average offered rental rate of modern offices in Budapest in Hungary from 1st quarter 2017 to 2nd quarter 2023 (in euros per square meter)

Office

Average offered rental rate of modern offices in Budapest in Hungary 2017-2023

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