If it's weighted with hungarian currency changes , than could be a reason. EUR-HUF went from 315 to 410 in this period. The other countries has much more stable currencies. Even if it's not, the EUR-HUF rising is still an issue: Hungarians got their salaries in forint while foreign investors have USD or EUR, so they practically have a nice 30% discount on the hungarian real estates. Obviously the foreigner investments grew, so the prices too. Also, hungarian goverment implemented a huge family support program,which means government gives a shittone of money to people willing to have 3+ children. We're talking about the price of half of a house. If you give a lot money to people to buy houses, than the demand rises, so will the prices.