K&H: this is how much housing prices have increased according to those most affected

After the rapid price increase at the beginning of the year, the further price increase of housing continued in Budapest in the second half of 2024, but slowed down or stopped in the countryside, according to KSH data. Following the decrease in 2023, housing market turnover picked up in almost all regions of the country and significantly exceeded the low base of the previous year. However, the overall turnover of the entire housing market in 2023 fell short of the previous year. Fewer foreign citizens bought apartments in 2023 than in 2022.

In the third quarter of the year, K&H asked people aged 30-59 about their opinions on housing prices. 78.5 percent of respondents reported that they had noticed a price increase compared to a year earlier. This is a more modest proportion than in the survey conducted two years ago, when 91 percent of respondents said that they thought housing prices had increased in a year. Now, 72 percent of younger people and 84 percent of older people have the impression that housing has become more expensive compared to mid-2023 and 2024. Four percent of survey participants perceived a decrease in prices between July-September 2023 and July-September 2024, and 18 percent saw real estate prices as unchanged.

Those who experienced price increases perceived an average increase of 26 percent. Those with lower education and lower incomes saw prices in the real estate market rise even more, by 28 percent and 31 percent, respectively. Those who predict a price decrease say that they paid an average of 13 percent less for apartments in the middle of this year than in the same period last year.