Hungarian real estate market shifts as OTP introduces flexible savings

The Hungarian real estate market entered a new development phase in the second quarter, characterized by expanding supply and more cautious buyer behavior. In Budapest, the average selling price reached 68.6 million HUF. Buyers are increasingly selective, often viewing between 15 and 40 properties before making a decision, with a preference for realistically priced, well-maintained homes. Demand is primarily driven by first-time buyers utilizing supported credit schemes like ‘Otthon Start’, while purely investment-driven purchases have moderated.

Regional trends show divergence; North-West Hungary has seen increased demand and price corrections, with an average selling price of 44.6 million HUF, particularly in border areas and the Balaton region.

In response to changing market dynamics, OTP Lakástakarék has introduced a new, more flexible housing savings construction. This model allows customers to choose between two intermediate withdrawal options during a maximum ten-year term. Specifically, customers can withdraw funds after four years with a 10 percent return, or after eight years with a 20 percent return, providing greater adaptability to changing personal financial needs and life circumstances.