Unbelievable! Hungary’s house price growth more than double the pace of EU average

Budapest, April 7 (MTI) – House prices in Hungary rose by 9.7 percent in the fourth quarter of 2016 compared with the same period a year earlier. In the European Union, growth was 4.7 percent, according to a quarterly report by Eurostat.

Property price growth in Hungary was the second fastest among EU member states after the Czech Republic, where prices rose by 11 percent in the fourth quarter.

Last year, house prices in Hungary increased every quarter at least twice as fast as the EU average.

In the first quarter, Hungarian prices rose by 13.1 percent, in Q2 by 9.7 percent and Q3 by 10 percent. The pace of average price increases in the EU was 4.1 percent, 4 percent and 4.2 percent, respectively.

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Photo: Daily News Hungary

Source: MTI/Eurostat