In the first month of the year, housing prices rose by 1.7% nationwide, while in Budapest, the increase was slightly faster, at around 2.9% on a monthly basis. The dynamics varied across different parts of the country: in Transdanubia and Northern Hungary, prices rose between 1.5% and 3.6%, while in the Northern and Southern Great Plain regions, stagnation was the norm. Pest County, which covers the Budapest agglomeration, however, saw a slight monthly price decline of around 0.5%.

Traditionally, the housing market starts the year with price increases, which is supported by data from the Hungarian Central Statistical Office (KSH): between 2021 and 2025, the first quarters were characterized by an 8.1–9.9% increase in housing prices compared to the previous quarter. The only exception to this was the slow start to the housing market in 2023, when prices rose by only 4% compared to the end of 2022.

"The phenomenon may be due to the rise in wages and income levels in January, as more than half of buyers are considering taking out loans due to the current high housing prices.

Higher salaries mean that more loans can be taken out, which can be used to finance more expensive properties, and sellers are also pricing this into the market,

said László Balogh, chief economic expert at ingatlan.com.

He added that current data already show signs of a slowdown compared to previous years. This is indicated by the fact that the usual monthly increase in housing prices in January was 1.7% in 2026, which is lower than the nearly 2% monthly price increase seen in the first month of 2025. The annual rate of price growth is also moderating: in December 2025, the rate was still 17.7%, which fell to 17.5% in January 2026. Nevertheless, the data show a slight acceleration in Budapest, where the annual rate of price growth accelerated from 20.1% to 20.4%.

According to the real estate expert, the slowdown in annual price increases is also due to the fact that

demand for used apartments and houses has fallen by more than a quarter,

which will eventually be reflected in prices. Demand for new builds, on the other hand, is increasing, but price increases for these properties may be held back by the Home Start program's price cap of 1.5 million per square meter.

According to ingatlan.com's February data, the selection has expanded dramatically: nationwide, the supply of apartments and houses for sale has increased by 6.1% to more than 135,000 year-on-year, and in the capital, buyers can choose from more than 37% more listings than in February last year.

In Budapest, the largest supply continues to be concentrated in the 13th district, where 3,408 used apartments and houses are waiting for buyers, which is 67% more than a year ago, with apartments advertised at an average price of HUF 1.62 million per square meter. Similarly active are the 6th district with 2,448 listings and a price per square meter of HUF 1.58 million, and the 7th district, where 2,323 properties are offered for sale at a price level of HUF 1.5 million. In the 8th district, there are more than 2,000 residential properties on offer, with an average price per square meter of HUF 1.33 million. The 5th district remains the most expensive: the median price for the 1,804 used apartments for sale exceeds HUF 2.04 million per square meter.

The markets in county seats are also characterized by abundance, with a total 36% increase in the supply of used residential properties in the cities concerned, but there are still significant differences in prices. Pécs has the most listings: nearly 2,200 used apartments are available at a median price of HUF 924,000 per square meter. In Debrecen, there are almost 1,700 used residential properties for sale, with prices reaching HUF 1.07 million. Szeged and Győr are neck and neck: in the former, 1,574 used apartments are looking for owners at a price of HUF 989,000 per square meter, while in the latter, 1,190 properties are available at a price of HUF 971,000 per square meter. In Székesfehérvár, there are 588 used apartments for sale at a price of HUF 997,000, while in Kecskemét, 670 used properties are available at a median price of HUF 892,000 per square meter. In Miskolc, there are more than 1,000 used apartments on offer at a price of HUF 619,000. The cheapest county seat remains Salgótarján, with an average price of HUF 339,000 per square meter, which is less than a third of the price of apartments in Debrecen, the most expensive county seat.

According to Balogh, the expansion of supply and the decline in demand for used homes together indicate that

market equilibrium may gradually improve in favor of buyers.

Overall, therefore, the dynamics of this year's apartment price increases will be determined primarily by growth in incomes and earnings, as he believes that sellers have already priced in all other positive factors and circumstances in the apartment market.

A címlapkép illusztráció. Címlapkép forrása: Getty Images