Housing

The HCSO Weekly Monitor is replaced by the HCSO Monitor starting 11 October 2023. The interactive collection of figures, available on the HCSO website, continues to inform about the latest domestic and international social and economic trends, at the same time figures of First Releases have been added to the subjects, as such the content of its categories changed to a certain extent.
The figures of the HCSO Monitor may be downloaded, as before, in image and data formats (PNG, SVG and CSV).
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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.

Asking rents in Hungary continued to rise in July 2024: they were 1.8% higher nationally and 1.4% higher in Budapest in one month. The nominal rent index in July was 112% higher nationally and 101% higher in the capital, while in real terms it was 28% and 21% higher than the 2015 base.

In the first quarter of 2024, the housing market in most of the country already showed signs of recovery from the previous downturn. Following a 23% decline in 2023, the number of homes sold rose by 36% compared to the same quarter of the previous year. Housing prices have also risen, with second-hand prices up 5.3% and new prices up 4.6% compared to the previous quarter. Prices rose in most parts of the country, with the exception of detached houses in the eastern part of the country.

In the first half of 2024, 6,027 new dwellings were built, 18% fewer than a year earlier. The number of dwellings to be built on the basis of issued construction permits and simple declarations was 8,972, also 18% lower than in the same period of 2023.

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.

The tables and graphs in the latest edition of the Statistical Pocketbook of Hungary provide a comprehensive insight into the evolution of social and economic trends in Hungary in 2023. Its international chapter allows for comparisons of major data primarily on member states of the European Union. The publication amasses, starting this year, commercial, private and other accommodation establishments in one unit.

The housing loan stock in Hungary stood at HUF 5,003 billion at the end of 2023, which was 1.5% higher than at the end of 2022. The growth rate of the housing loan stock slowed down compared to the annual growth rate of 7.5% in 2022 and between 9% and 15% in the four preceding years. The ratio of housing loans to GDP declined from 7.5% at end-2022 to 6.7%.

In March 2024, rents continued to rise: nationally they increased by 0.8% and in Budapest by 1.8% in one month. In nominal terms, March rents were 11.7% higher nationally and 12.4% higher in Budapest than in the same period last year, and 101% and 94% higher than in the base period of 2015. The real rent index was 23% higher than the 2015 base nationally and 19% higher in the capital.