Latest news in Hungary - 29 Oct 2024

- Rising Apartment Prices: Hungary's National Bank reports a 9.3% increase in national apartment prices over the past year. In Budapest, prices rose 3.9% in Q2 2024. Rural areas, particularly the Southern Great Plain, saw a remarkable 13.1% price increase. Analysts expect further increases in 2025. Read more here

- Budapest Residents Support Olympic Discourse: A survey shows 73% of Budapest residents favor discussing a potential Olympic bid. 61% insist on thorough assessments before any commitment, while nationwide, 53% echo the call for more information. Mayor Gergely Karácsony highlights development opportunities tied to the Olympics. Read more here

- National Consultation on Economic Neutrality: The Hungarian government has launched a national consultation titled "Hungary Can Do It!" to gather public feedback on economic strategies. Key topics include support for SMEs and wage proposals. Read more here

- Speed Cameras to Launch in Budapest: On October 30, 2024, 26 new speed cameras will monitor 47 traffic lanes across Budapest following a successful trial. The initiative aims to enhance road safety after recent accidents. Read more here

- BKK to Allow Free Dog and Bicycle Transport: A proposal has been made to allow free transport of one dog and one bicycle per passenger on Budapest's public transport starting in 2025. The plan includes simplifying ticket options and tightening traffic safety measures. Read more here

- New Bilingual School for Ukrainian Refugees: A new Hungarian-Ukrainian bilingual school has opened in Csepel to support 300 Ukrainian children affected by the war. The curriculum aims to enhance social and academic development while promoting cultural exchange. Read more here

- Fuel Prices Set to Rise in 2025: Fuel prices in Hungary are expected to increase significantly next year due to a new energy efficiency obligation system, with taxes on fuel retailers projected to double. This change aims to align with EU energy consumption reduction goals. Read more here

- Government Reduces Housing Development Goals: The Hungarian government has revised its housing target from 40,000 to 25,000 new apartments per year, citing high construction costs and other challenges in the housing market. Read more here