The GKI real estate indices for Budapest and Hungary stood at -1 and 1 point in January 2018, respectively. The Budapest index has dropped within the error margin, while the index for the whole country has increased 1 point, compared to the previous survey completed in October. Compared to one year earlier, the index in the capital has decreased 4 points and it has dropped 1 point for the whole country. The real estate outlook in Budapest peaked five quarters ago and a very modest decline is experienced since then. The national index reached its highest point a year ago and the present one is close to it.