Hungary's Property Price Growth Comes to a Near Standstill

Portfolio.hu

Property price growth in Hungary has nearly stalled after several years of rapid increases. In October 2026, apartment and house prices rose by just 0.2%, while values in Budapest have barely changed for three months. Meanwhile, the number of properties for sale is increasing, buyer activity is declining, and the terms of subsidized mortgage lending are changing.

Autumn Property Price Trends in Hungary

In September 2026, property prices in Hungary were 8.2% higher than in the same month of 2025. Annual growth slowed to 6.9% in October, its lowest level in more than two years. The ingatlan.com index, which covers both new and existing homes, recorded a month-on-month rise of just 0.2%.

Price growth slowed across the country. Among major regional cities, Debrecen had the highest asking prices for existing homes outside Budapest, at 1.02 million forints ($3,110) per sq m. New-build properties there cost 1.38 million Ft ($4,210). In Szeged, the respective figures were 960,000 Ft ($2,930) and 1.39 million Ft ($4,240). The latter city therefore narrowly leads Debrecen in the new-build segment.

In Győr, existing homes are priced at 950,000 Ft ($2,900) per sq m and new properties at 1.28 million Ft ($3,910). The corresponding figures in Pécs are 800,000 Ft ($2,440) and 1.14 million Ft ($3,480). In Nyíregyháza, second-hand housing is listed at 790,000 forints ($2,410), while newly built homes in Székesfehérvár cost 1.17 million Ft ($3,570).

How Much Does Housing Cost in Budapest?

Over the past 12 months, house prices in Budapest rose by just 1.8%, the smallest increase since December 2023. Housing values in the capital have barely moved over the last quarter and have even declined in inflation-adjusted terms.

In early November, the median asking price for existing homes in Budapest stood at 1.4 million forints ($4,270) per sq m, virtually unchanged from the same period in 2025. The most expensive properties were in the central District V, at almost 2 million Ft ($6,100) per sq m. Prices reached 1.9 million Ft ($5,800) in District I and 1.74 million Ft ($5,310) in District XII.

The lowest prices were in District XXIII, at around 940,000 Ft ($2,870) per sq m, followed by Districts XX and XXI at 1.03 million Ft ($3,140). District XIII had the largest choice of apartments, with nearly 3,700 listings and a median asking price of 1.6 million Ft ($4,880) per sq m.

New-build apartments in Budapest cost more than existing homes. In early November, the median reached 1.72 million Ft ($5,250) per sq m, up 4.5% over 12 months. The highest prices were recorded in District II at 3.1 million Ft ($9,460), District XII at 3.03 million Ft ($9,250), and District VI at 2.54 million Ft ($7,750).

More affordable newly built apartments are available in District XV at 1.21 million Ft ($3,690) per sq m, District XVII at 1.23 million Ft ($3,750), and District XXIII at 1.31 million Ft ($4,000). The number of listings for new homes in the capital increased by 52% over 12 months, intensifying competition among sellers.

Housing Transactions and Mortgages in Hungary

By the end of October, Hungary's housing market had 150,400 properties listed for sale. This was 1.4% more than in September and 10.5% above the same period in 2025. During the month, 31,100 new listings appeared, down 13.5% year on year.

Home sales rose by 20.2% from September. According to Duna House, 11,277 transactions were completed, 2.1% fewer than in October 2025. The agency recorded approximately 95,000 residential property deals from January through October.

The October surge was linked to the end of the subsidized Otthon Start mortgage program, as some buyers rushed to sign contracts under the previous terms. Demand weakened noticeably in the first working days of November. Property viewings fell by 40% compared with early October, while the Duna House buyer activity index dropped by 20–25%. Purchase offers were roughly one-third lower, and the median negotiated discount rose from 4.3% to 4.8%.

In late October, Otthon Start was replaced by Wekerle Plus, intended for first-time homebuyers aged 18 to 45. Under Hungary's new subsidized mortgage scheme, borrowers can obtain up to 50 million forints ($152,600) for a term of up to 25 years. The fixed interest rate is 3% for new-build properties and 5% for existing homes. The maximum eligible property price is 1.5 million Ft ($4,580) per sq m. This ceiling is below the median new-build price in Budapest, excluding part of the capital's supply from the scheme.

The program is intended for owner-occupiers: borrowers must live in the purchased property for five years, and renting it out is prohibited.

Outlook for Hungary's Property Market

International Investment analysts note that the new state support scheme is not designed for buying investment apartments to rent out. Higher mortgage rates for existing homes will narrow the pool of potential buyers, while the 3% loan will primarily support new-build properties that meet the program's conditions.

A widening gap between marketable and overpriced properties could become the main consequence of Hungary's cooling housing market. In Budapest's more expensive districts, the difference between asking prices and actual transaction values is likely to grow. Owners who bought apartments at the height of the price boom will need to factor in the risk of selling at a loss.

For investors, the existing-home segment offers some of the strongest opportunities in 2027, with scope for larger discounts. Lower acquisition prices combined with stable rents would improve investment yields. In regional centres, university cities and industrial hubs remain attractive areas to watch, as students and employees of major companies sustain rental demand.

FAQ

How much did property prices rise in Hungary in October 2026?

They increased by 0.2% month on month and 6.9% compared with October 2025.

What is the average price per sq m in Budapest?

In early November, the median asking price was 1.4 million Ft ($4,270) for existing homes and 1.72 million Ft ($5,250) for new builds.

How many property transactions took place in Hungary in October?

Duna House estimated 11,277 transactions, up 20.2% from September.

What are the terms of the Wekerle Plus subsidized mortgage?

The scheme provides loans of up to 50 million Ft for up to 25 years, at fixed rates of 3% for new builds and 5% for existing properties. Age and property-price limits apply.