EU’s Hottest Property Market Shows Signs It’s Past Peak
- Hungarian apartment prices declined 4% in the fourth quarter
- Hungary housing costs rose 156% from 2015, biggest gain in EU
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Hungary’s property market, the hottest in the European Union over the past decade, appears to have peaked, according to data from one of the country’s biggest realtors.
Apartment prices declined 4% on average in Hungary in the fourth quarter from the previous three-month period, while the cost of houses fell 5%, Otthon Centrum said in a statement on Tuesday. The cost of Hungarian apartments still rose 25% last year overall despite the end-year decline, according to the realtor.