Housing

The domestic housing market continued to expand in the fourth quarter of 2024, with the number of sales 22% higher than in the same period of the previous year. After a strong increase in Q1, housing prices continued to rise at a more moderate pace. In Q4, the price of dwellings rose by 1.6% compared to the previous quarter. Over a year, prices rose by 13% in nominal terms and by 8.9% in real terms, the latter by 8.7% for second-hand dwellings and 10% for new dwellings.

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The tables and charts in the latest edition of the Statistical Pocketbook of Hungary provide a comprehensive insight into the development of social and economic trends in Hungary during the year 2024. It aims to provide a summary picture of the country's situation in all possible areas based on preliminary indicators. Within the number of employees, this year's pocketbook also includes employed persons working less than 60 hours, and the gross revenues at tourist accommodation establishments.

After a slowdown in the previous year, the amount of housing loans in Hungary increased by 13% in 2024, reaching 6.9% of GDP. Compared to the low base, the amount of both subsidised and unsubsidised housing loans increased significantly. Overall, loans for the purchase of second-hand dwellings continued to dominate within the housing loan flows, which doubled from a year earlier. However, in line with the decline in housing starts, the share of loans for new housing decreased significantly.

In Q1 2025, 2,704 new dwellings were built, 2.7% fewer than a year earlier. The number of dwellings to be built on the basis of construction permits and simple declarations was 5,651, 25% more than in the same period of 2024.

King Leopold I gave Debrecen free royal town status in a patent dated 11 April 1693, in commemoration of this event the city is celebrating since 1998 its day on 11 April. Debrecen was the capital of the country twice, since the mid-1980s it is the second most populous city of Hungary (preceding Miskolc). It is a significant economic and educational-cultural centre. The city is the first in the rank of county seats considering the number of registered enterprises, and the University of Debrecen hosts, among the tertiary educational institutions of Hungary, the most foreign students.

In March 2025, rents were broadly stagnant (-0.1%) nationally, while in Budapest they increased (0.7%) compared to the previous month. The nominal rent index for March was 116% higher than the 2015 base nationally, 107% higher in the capital and 27% and 21% higher respectively in real terms. Over a year, nominal rents increased by 7-8% and real rents by 2-3%.

The Sectoral Overview chapter of the publication ‘TÉR-KÉP, 2023 (Map-Snap)’, shows the spatial differences in Hungary through the state of some sections of the economy (agriculture, industry, construction, catering and trade). In 2023, housing construction is still concentrated in some districts of and the agglomeration of the capital, the shores of Lake Balaton, the north-western part of the country and some large cities in the Great Hungarian Plain. In the districts of Siófok and Mosonmagyaróvár, as well as in the districts XIII, IX and XI of Budapest, the number of housing constructions per 10 000 inhabitants was exceptionally high, more than three times higher than the national average (19). The complete publication is available in Hungarian at: TÉR-KÉP, 2023.

The number of housing units built fell by nearly a tenth, reaching a five-year low in 2023. Housing construction costs continued to rise at a slower pace, but still at double-digit rates. In addition to the rising cost of home building, the sharp fall in construction sentiment was also influenced by higher interest rates on housing loans. Both the number and the amount of loans disbursed fell sharply. Housing market turnover fell by almost a quarter and home price growth slowed significantly compared to a year earlier.

The yearbook provides an overview of Hungary's demographic, social and economic processes, environmental characteristics and their changes over time, with the help of tens of thousands of data of 500 tables, graphs and maps. Innovatively, the Tourism, catering chapter in the volume includes the gross receipts of tourist accommodation establishments by type of accommodation. Another change is that this year the Regional data chapter already presents territorial data by tourism area, giving greater emphasis to tourist destinations.

Geopolitical tensions continued to overshadow economic developments in 2023, with the gross domestic product falling by 0.9%. Inflationary pressures gradually eased, but the 17.6% annual increase in consumer prices led to a decline in real earnings and consumption, and negatively affected investment decisions. Despite the economic difficulties, employment has reached a record high. In 2023, the number of deaths and births continued to fall, in addition to the decrease in the number of women of childbearing age.