This report provides an analysis of real estate sector in Hungary and Bulgaria. The report aims to describe the current situation, in order to develope a forward looking statement about this segment, because the real estate market is growing fast in 2015 in Hungary. The first part of report provides information about the currently situtation of this segment. It includes data about the value of the real estate activies and number of home sales and dwellings bulid in recent years. Furthermore it includes a chart about the distribution of home sales. The comparison of turnover data of soma larges real estate agencies (Otthon Centrum, Duna House, Dominium Ingatlan közvetítő, Balla Ingatlan) shows the currently market situation. The report concentrates on Bulgaria next to Hungary. The last part of report surveys briefly the role of this segment in Bulgaria and provides data about the number of dwellings from 2010 to 2014.