House prices have picked up 20 percent year-on-year in the second quarter of 2018, it has been revealed.
The National Bank of Hungary’s latest house price index shows that the annual growth rate of house prices in Budapest picked up from 17.8 percent in the first quarter of 2018 to 20.2 percent in the second.
In cities outside of Budapest, an annual growth rate of 16.3 percent was recorded signaling a healthy housing market across the country.
In municipalities, there was an average annual growth of 11.8 percent and the gap has widened between smaller and larger residential house prices.
In July, we revealed how Hungarian house price growth is among one of the highest in Europe.
According to official data released by Eurostat, house prices rose by 4.7 percent in the EU in the first quarter of 2018 year-on-year, and by 0.7 percent compared to the previous quarter.