General economic overview

In 2019, Hungary’s GDP rose by 4.9% compared to the previous year. Gross value added increased by 21% in construction, by 5% in industry, by 4.2% in services and decreased by 0.3% in agriculture.

Services contributed to GDP growth by 2.3%, industry and construction by 1% each. Final consumption contributed by 2.8% and gross capital formation by 2.6%. The trade balance contributed negatively slowing down GDP growth by 0.4%.

In 2019, reaching a record high, the volume of investment grew by 14%. Within this category, the volume of construction investment increased by 16%. Investment in machinery and equipment increased by 11%.

In 2019, the total number of employees amounted to 4.5 million, 43,000 above the level in 2018.

Overall construction activity

In 2019, construction output grew by 21.7% compared to 2018. Construction output prices increased by 9.7%.

The construction of buildings grew by 20.2% and civil engineering by 23.9%.

At the end of December 2019, the volume of construction contracts was 10.5% lower than at the end of December 2018. The number of contracts increased by 38.9% for the construction of buildings but fell by 20.7% in civil engineering.


In 2019, 21,127 new dwellings were built, an increase of 20% compared to the previous year. The number of houses to be built decreased by 4.3% to 35,123.

In 2019, nearly half of new houses (49%) were put to use in Budapest and Pest county. 33% of homes were put to use in the large region of Transdanubia and 18% in the large regions of Great Plain and Northern Hungary.

In 2019, 5,838 homes were put into use in Budapest, 51% more than in 2018. Except for smaller towns, where growth amounted only to 3.6%, the number of new houses built doubled.

The share of dwellings built by private individuals fell from 46% to 41%, while the share of companies increased from 53% to 57% compared to 2018.

The average floor area of houses put to use decreased by 2.7 m2 to 96.6 m2 compared to 2018.

The number of dwellings to be built was 35,123, 4.3% less than in 2018. 55% of new dwellings are planned to be built in Budapest and Pest county. Nationwide, the share of simple declarations within all permits was 46%.

GDP 2019




Total investment in construction in 2019

Number of building permits in residential construction
  2016 2017 2018 2019a 2020b
single dwelling 9,420 10,078 10,163 11,026 NA
collective dwelling NA NA NA NA NA
other types of dwelling NA NA NA NA NA
Total 12,206 13,216 13,743 14,282 NA
(Collective dwellings and other types of buildings: in number of flats)