Hungary’s house prices among the highest in EU

13 Jul 2018

Fishermans bastion budapestHungarian house prices have been increasing significantly, according to statistics released by Eurostat.

Since 2015, house prices have risen by 31% - a remarkable number that has well surpassed other EU countries, where the average has been 11%.

Rising wages, increased employment and low interest rates could be accredited for this rise, as they resulted in more loans being taken up.

Across the EU, house prices in Q1 2018 rose by 0.7% when compared to the fourth quarter of 2018. Compared with the previous quarter, Latvia saw the highest increase, at 7.5% – followed by Hungary and Slovenia, which both stood at 4.4%.

Year-on-year, Latvia also had the highest annual house price increase in the first quarter of 2018, which was at 13.7%. Slovenia followed with 13.4%, Ireland with 12.3%, and Portugal with 12.2%. Hungary was also among the highest, with an 11.5% price growth rate. Prices fell in both Sweden and Italy (-0.4%), and Finland (-0.1%).