Duna House : estimation of the monthly residential property transaction and mortgage loan volumes
July 04, 2022 at 05:03 pm EDT
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Residential property transaction volume estimate and mortgage forecast for
June 2022
Duna House presents its monthly Transaction Number Estimate (DH-TE) and Mortgage Forecast below, showing that in June 2022 10,859 property transactions were concluded and residential mortgage contracts worth HUF 120 billion were signed in the whole of Hungary.
Summer has kicked off in the real estate market. In June 2022, the 10,859 sales transactions appearing in the estimate of Duna House show a weaker turnover compared to both the previous month and the same period last year. This represents a drop of 13% and 20% compared to May and June 2021, respectively. This means that according to Duna House the first half of the year saw nearly 75,000 transactions, 10% less than in 2021 and 25% more than in the epidemic-ridden year of 2020. Experts forecast a more subdued real estate market in the second half of the year due to the rising interest rate environment, so both sellers and buyers may need more help.
The mortgage market, too, saw a downward trend in June, due in part to the volume of phased out Green Home Loans. Duna House estimates that housing loans worth HUF 120 billion were disbursed in the first month of the summer. This represents a decrease of 13-15% compared to June last year and May this year. On a half-yearly basis, based on the factual figures of MNB, the National Bank of Hungary and on the May and June estimates of Duna House, a total of HUF 753 billion of residential loans were contracted for, which represents an increase of 26% compared to the first half of 2021.
Budapest, 4 July 2022
Background info
The table below shows monthly transaction volume estimates of Duna House.
January
February
March
April
May
June
July
August
September
October
November
December
2020
9917
13,117
11,100
5971
8400
11,186
13,125
11,923
12,708
12,200
11,369
10,354
2021
11,185
14,569
15,630
13,511
14,198
13,615
11,185
11,304
11,807
11,526
11,022
11,422
2022
10,815
13,793
14,548
11,911
12,519
10,859
Methodology behind DH-TE: Regardless of the time of year, the most important indicator of the real estate market is the annual number of sale transactions. The DH-TE figure is an estimate published by Duna House and it reflects interim approximate data. The estimate is based on the number of monthly property transactions brokered by Duna House and the estimated market share of Duna House. The estimate of the current monthly market share of Duna House is based on the following indicators: 1. Data published by the Hungarian Central Statistical Office on transactions among private individuals. Since the Statistical Office publishes data with several months' delay, market share can be adjusted retroactively which also results in a more accurate estimate as well. Please note: After 2016 and as a consequence of the boom in newly-built apartments, pre-contracted purchase transactions appear in the statistics of the Statistical Office with a delay of several months or even one or two years, after the capital transfer tax has been levied, which results in anomalies in the statistics. 2. The number of Energy Certificates issued; 3. Subjective assessment based on other management information from Duna House Holding.
Please also note that DH-TE data cannot be used for defining the volume of transactions brokered by Duna House, or for estimating the business profit of Duna House Holding or for the drawing of any related conclusions.
Mortgage forecast: Figures published by Duna House Loan Center can primarily be used for quick trend forecasts; the National Bank of Hungary publishes the actual figures for the second last month at the beginning of each month.
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Duna House Holding plc published this content on 04 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 July 2022 21:02:07 UTC.
Duna House Holding Nyrt is a Hungary-based company, which is primarily engaged in the real estate industry. The Company operates as a real estate agency. It provides various real estate services, such as real estate brokerage, real estate management, real estate appraisal, renting services, among others. In addition, the Company provides numerous financial services, such as real estate loans, loans refinancing, corporate loans, insurance services, among others. It offers various real estate objects ranging from apartments to duplexes and houses in different regions. The Company cooperates with numerous real estate brokers and agents. The Company operates domestically on the territory of Hungary.