Hungarian home price index rises half a percent in the quarter

Hungary’s nominal home price index rose 0.5% in the third quarter of 2026 from the previous quarter, according to MNB data released on 26 October. For Hungarian households planning a purchase, the difference between national and local changes provides an important basis for comparison.

The central bank’s table shows national annual growth of 6.6%. In Budapest, prices increased 1.9% quarter on quarter and 5.3% year on year. The quarterly figure compares with the preceding quarter; the annual figure compares with the same period a year earlier. The two horizons answer different questions.

Our interpretation is that even with modest national price growth, comparable homes in a particular neighbourhood must be examined separately. A national index cannot replace a valuation of an individual property. Size, condition, energy performance and expected renovation costs can produce different total outlays even when asking prices are identical.

The reported measures are nominal: inflation has not been subtracted in this comparison. The price level can continue rising while the percentage growth rate slows; readers therefore need to consider both the sign and the comparison period.

Our coverage of European construction output and French housing development prospects concerns a different market or measure. The next central-bank home price release may show whether the current difference between national and capital-city developments persists.