BBC reports from Budapest as Orbán concedes

Prime Minister Viktor Orbán has conceded defeat in Hungary’s elections after 16 years in power, and the opposition is heading for a landslide victory.

After record numbers emerged in the elections, which are considered very important for the future of Hungary and Europe, Péter Magyar is preparing to become the new prime minister of the country.

With two-thirds of the votes counted, Magyar’s party is poised to gain a large majority in parliament. Vote counting will continue in the coming days.

BBC correspondent Rajini Vaidyanathan broadcasts from outside the Hungarian parliament as crowds hear the prime minister’s concession.