A county-by-county look at where new housing supply is keeping pace and where it is falling behind.
Hungary completed 14% fewer new homes in the first three quarters of 2025 than in the same period in 2024. In total, just over 8,000 homes were completed nationwide during this period. That is the national picture. The key question is where those homes were built and which counties are building more or fewer homes compared with their population.
This analysis uses data from the Central Statistical Office’s Fókuszban a vármegyék publication. It compares Budapest and all 19 counties using the same measures for January to September 2025. Housing supply is shown as completed homes per 100,000 inhabitants, which allows a fair comparison between counties of different sizes.
The data shows clear differences in housing supply between counties.
Where Supply Is Stronger
In the first three quarters of 2025, a small number of counties completed more new homes relative to their population than most others.
Somogy county recorded the highest number of completed homes per 100,000 residents. Budapest and Pest county also ranked near the top of the national comparison. Together, Budapest and Pest accounted for roughly one-third of all newly completed homes nationwide.
This concentration matters. It means a significant share of new housing supply is being delivered in and around the capital region.
For buyers in these areas, this typically means:
- more newly completed homes entering the market,
- more choice,
- less reliance on older housing stock.
These figures show supply relative to population, not total market size.
Where Supply Is Weaker
Several counties completed fewer new homes relative to their population.
Borsod-Abaúj-Zemplén, Békés and Nógrád recorded the lowest completion levels per 100,000 residents. Housing completions declined in most counties compared with the same period a year earlier.
When fewer new homes are built, the effects are clear:
- there are fewer newly built properties available,
- buyers depend more on existing homes,
- competition increases when a new development is completed.
If fewer homes continue to be built, local demand will increasingly exceed new supply.
Construction and Employment
Construction output across Hungary was slightly lower than a year earlier, and about 29,000 fewer people were working nationwide compared with the same period in 2024.
Fewer people in work generally means less household income and weaker demand for new homes. When demand softens, fewer residential projects are started, and fewer homes reach completion.
This means fewer homes are built, even if builders are still ready and able to build them.
Why This Is About Counties, Not Just Hungary
National totals show that housing completions fell across Hungary as a whole. County data shows where the slowdown is stronger and where building activity remains more active.
Someone looking to buy in a county with higher completion levels will see more new-build options than someone searching in a county where fewer homes are being completed.
Housing supply conditions are set locally, not nationally.
What This Means
The 2025 data shows that housing supply in Hungary is uneven.
Some counties are still completing new homes at a steady rate compared with their population. Others are completing fewer homes.
This difference shapes local housing markets across the country.
Quick Summary
1. Hungary completed 14% fewer new homes in January–September 2025, with just over 8,000 homes delivered nationwide.
2. Housing supply is measured per 100,000 inhabitants to compare counties fairly.
3. Somogy, Budapest and Pest recorded the strongest relative delivery, with Budapest and Pest together accounting for about one-third of completions.
4. Borsod-Abaúj-Zemplén, Békés and Nógrád recorded the weakest levels, and most counties saw declines year-on-year.
5. Fewer people working nationwide weakened demand for new homes, reducing the number of residential projects started and completed.
Sources:
Központi Statisztikai Hivatal (KSH), Fókuszban a vármegyék – 2025. I–III. negyedév.
County-level completion patterns independently highlighted in industry reporting based on KSH data.