Housing market shock: buyers finally gain the upper hand in Hungary?

In many places, it’s being said that bargaining is back in Hungary. But has the balance really shifted in favour of buyers, or has the housing market only loosened in certain segments? The latest data suggests the picture is far more nuanced.

The Otthon Start scheme reshaped the market

Following the launch of the Otthon Start programme, the market picked up rapidly. Driven by rising demand, housing market negotiation margins almost disappeared, with buyers often able to secure discounts of just 1–2%. Sellers gained the upper hand, and many even adjusted prices upwards during the listing period.

“Even before negotiations, sellers often adjust their initial asking price, primarily depending on market demand,” said Péter Futó. He added: “In a strong market, price reductions are less common, whereas in weaker demand conditions, owners are more likely to cut prices—and by a greater margin—even during the listing period.”

However, this situation did not last long. As the initial surge in demand subsided, a number of overpriced properties became stuck on the market, once again increasing the role of housing market negotiation margins.

Negotiation room is widening again—but unevenly

By early 2026, there is once again more room to negotiate: nationwide, discounts of up to 7% are now achievable. For an average property, this can translate into several million forints off the asking price.

“By early 2026, bargaining power had returned, with the national average once again approaching 7%,” highlighted Péter Szegő.

At the same time, the market remains highly segmented. In Budapest and larger cities, housing market negotiation margins remain low, typically between 2–4%, while in rural areas significantly larger discounts are increasingly common.

Detached houses offer the biggest bargaining opportunities

Clear differences can be observed across property types. In the case of panel flats, housing market negotiation margins remain tight, often below 2%. By contrast, the market for detached houses offers far greater flexibility, reported Pénzcentrum.

Particularly in the case of rural properties in need of renovation, discounts of 10–15% are not uncommon, while modern, well-maintained homes continue to attract strong competition.

Buyers have become more cautious

Buyer behaviour has also shifted significantly. While many previously rushed decisions out of fear of missing out, today’s buyers are far more deliberate.

“By 2026, buyers have become more conscious, increasingly insisting on realistic prices and more often choosing to wait or look for alternative properties,” said Péter Szegő.

Bank valuations also play a key role, frequently coming in below the asking price. This indirectly increases housing market negotiation margins, forcing sellers to adjust their expectations.

The trend hasn’t reversed everywhere

Although there are clear signs that buyers’ positions have strengthened, this is far from a universal turnaround. Housing market negotiation margins still depend heavily on location and property type.

In the capital and other sought-after urban areas, sellers continue to hold a stronger position. Meanwhile, in smaller towns and less desirable segments, buyers are increasingly in control.

If you missed it:

• Ukraine’s government launches Hungarian-language radio channel to fight “absurd statements” from Budapest