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1st February, 2018

Housing prices growing faster outside Budapest

Housing prices were 11.5% higher year-on-year in the third quarter of 2017, cooling somewhat from the 15.4% growth in the second quarter, the MNB announced.

In real terms, housing prices rose 8.7% in the third and 13% in the second quarter.

Price growth from the second to the third quarter came to 2%.

In an unusual development, price growth was slower in Budapest than in other cities.

The quarterly price increase in the capital was 1.8% in the third quarter, down from 3% in the second.

In other cities, the annual housing price increase was 13.3% in the third quarter, exceeding the 12.5% rise in Budapest.

In villages, home prices rose a more gradual 6.3%.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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