Hungarian home prices fall nationwide as market slows

Data from Zenga.hu show that in May the average advertised price of homes in Hungary fell 2.3% compared with April, slowing the annual price‑increase rate to about 12% across the country and 6% in Budapest. The drop was observed in 18 counties and the capital; the steepest declines were in Somogy (-5.6%) and Hajdú‑Bihar (-4.4%), while only Nógrád County recorded a rise (+2.5%). Panel‑owned apartments saw the smallest price reduction (‑1.5%), with brick apartments falling 1.7% and houses 2.7%.

Analysts note a shift in seller behaviour. According to Duna House senior analyst Szegő Péter, by spring nearly 40% of Budapest sellers had cut their asking price during the sales process, with average discounts of 7–10%. Futó Péter, head of analysis at Zenga, said panel owners are “waiting for the price decline” before adjusting listings. Transaction prices remain up 5–6% year‑to‑date, but the pace of growth has slowed, indicating a classic market deceleration and giving buyers greater bargaining power.