In March, statistics were released on the number of real estate sales for February in the domestic market, and then February 2021 appeared to be record setting for the number of sales over the past 10 years. Now, however, the record appears to have been short-lived: Duna House posted the number of transactions for March, which revealed that the number of transactions for this month reached 15,630 units around the country. This is more than a thousand units more than the Februar’s peak.
Hungarian Real Estate market continues to grow rapidly and has set a new record with sales exceeding 15,000 units in March, for the first time in 10 years. Duna House estimated that 15,630 transactions were almost 41% higher compared to March 2020, which in turn ended in stagnation caused by the first wave of COVID, but sales also exceeded this year’s February peak by more than 7%.
Thus, in the first quarter of 2021, the number of transactions reached more than 41,000 units, which is also the highest quarterly figure in the last 10 years. According to company analysts, the active market and still strong demand for real estate are driven by additional transactions due to changes in housing needs caused by the global pandemic and housing subsidies in the home market. According to experts, this market trend in the future may lead to annual growth in prices, expressed in double-digit numbers.
At the moment, everything indicates that the number of transactions could significantly exceed the 130,000 units which was recorded for the period of first quarter of 2020. Even more, if the growth continues further, it may break the record that was recorded for the period of 2018 in the number of 163,000 transactions.
source: portfolio
