The references are partly scientific:


  • Áron Horváth's PhD thesis surveys the literature on the relationship between the residential real estate market and the national economy and evaluates implementations of the theory in the Hungarian residential estate market.
  • Two publications in the Hungarian Statistical Review deal with real estate price indices. The first one gives an overview of the international literature while the second one, written jointly with Mrs. Judit Székely (Central Statistical Office), estimates Hungarian real estate price indices.
  • A publication in Külgazdasági Szemle analyses the Hungarian real estate market from a macroeconomic perspective.
  • A Background Study about the reaction of the Hungarian real estate prices to the crisis was written for the Hungarian Central Bank's Report on Financial Stability 2009.
  • Conference presentations about the Hungarian real estate market at IKKE, MKE and Vienna University of Economics and Business based on joint research by Áron Horváth and János Vincze.

Our most prominent consulting activities are the analyses provided to FHB, but we are expanding:


  • We developed and established the FHB Housing Price Index, and calculate new values on a quarterly basis. The index is based on the international standards of the hedonic method. The index starts from 1998 and it is widely cited among the regional real estate market participants.
  • In collaboration with FHB we provide regular housing market forecasts which serve as a benchmark for domestic business; we hope they will become so for foreign investors also.
  • This year we are developing new forecasting tools for BuildEcon (member of the EuroConstruct group).