Latest news in Hungary - 25 Sep 2025

Rákosrendező Renewal Proposal Approved: The Budapest Capital Assembly has approved a significant architectural tender for the renewal of Rákosrendező, paving the way for the selection of a design team and urban development plan. Key features include a focus on green spaces, 20% affordable housing, and a "15-minute city" concept that aims to ensure public services are easily accessible. Read more here

Home Start Loans Offering Limited-Time Discounts: Banks are currently promoting Home Start loans with attractive incentives, such as cash bonuses and lower interest rates starting from 2.85%, but applicants should act swiftly as many offers expire by the end of October or November. The launch has sparked fierce competition among lenders, with over 10,000 loan applications filed within two weeks, indicating high demand and the potential for a surge in overall housing loan contracts this year. Read more here

MOL Sues Ethylene Cartel: Hungarian oil and gas company MOL has announced it will file a lawsuit against several companies, including Westlake, Celanese, Clariant, and Orbia, over an ethylene cartel that resulted in significant financial losses due to manipulated pricing from 2011 to 2017. The European Commission previously penalized the companies involved, with three of them paying 260 million euros for their anti-competitive practices, while MOL seeks to recoup its losses stemming from these actions. Read more here

Scorpion Smuggling Research Underway in Hungary: Researchers from the Hungarian Natural History Museum are investigating how non-native Euscorpiidae scorpions are smuggled into Hungary, primarily through tourism and freight. They are calling on the public to help document sightings by sending photos and details of encounters, as they aim to map the distribution of these species across the country. Read more here

Airport Railway Project Officially Announced: The Hungarian Ministry of Economic Affairs has confirmed that the airport railway connecting Liszt Ferenc International Airport and Western Railway Station will be built as a concession, with an estimated construction cost of €1 billion (400 billion forints). The project, considered vital for the national economy, has been proposed multiple times since the 1970s, but gained serious attention only since 2016. Read more here

Revolut to Launch Local Accounts in Hungary: Revolut plans to establish a branch office in Hungary and offer local banking accounts by year-end, enabling customers to have salaries and pensions deposited directly into their accounts. With over 2 million Hungarian users, this move could enhance user loyalty, although it comes with stricter regulatory oversight. Read more here

Taxi Regulation Amendment Passed Amid Protests: The City Assembly of Budapest approved a controversial amendment to taxi regulations despite a day of protests from drivers. The amendment aims to improve market conditions but did not address taxi drivers' demands for fare changes and parking space regulations. Additionally, the financial situation of the city was highlighted, with warnings of potential bankruptcy without substantial aid. Read more here

Mayor Proposes Navalny Promenade in Budapest: A remembrance event for Alexei Navalny drew around 100 attendees outside the Russian embassy in Budapest, gathering heightened support after recent vandalism of memorial plaques. Mayor Gergely Karácsony expressed his backing for a permanent memorial and a Navalny Promenade, which requires city council approval. Read more here

Decline in Hungary's Working-Age Population: Recent data from the Central Statistical Office reveals that Hungary's employment figures are declining, with 4.676 million people employed in August, marking a decrease of 36,000 since July. The unemployment rate remains at 4.4%, but the working-age population's steady decline continues to pose challenges for the labor market. Read more here

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