The rise in the Hungarian capital’s housing prices has reached a record level: according to the Global Residential Cities Index from Knight Frank, Budapest property prices rose 23% in 2018.

According to the most recent data of Central Statistical Office (KSH), the pace of price increases of residential properties in Budapest, Hungary was exhilarated again in 2018. As reported by KSH, in the first half of the year, 59 000 homes were sold in the country, it means a 7% rise compared to last year.

Over the last 3-5 years, the Hungarian real estate market has gone through tremendous changes. In 2013, there was a slow downturn in the pre-owned home market, followed by an accelerating rise in prices. This rise was moderated in 2017, but the real estate prices are still increasing.

With the new academic year starting in September, this month is certainly the season to see and expect the apartment rental market boom in Budapest.    

The national average in 2016 on the value increase of residential properties in Hungary was 15,4%, according to a report by the Hungarian National Bank.   

Housing prices in Hungary have rose by a stunning 21% in  2014 and 2015, much faster than the neighborhing countries, but according a report published by the Hungarian National Bank, this is not excessive growth.