Péter Magyar and his victorious Tisza party have wasted no time preparing for the transfer of power in Hungary after their dramatic landslide defeat of Viktor Orbán last Sunday.

They won 52% of the vote to put an end to his party's 16 years of continuous rule, translating into 140 seats in the 199-seat National Assembly.

Orbán's Fidesz party saw a slump from 135 seats down to 53. The final count will be finalized on Saturday, including recounts in closely tied constituencies, and votes cast abroad.

With support from President Tamás Sulyok, Magyar has accelerated the formation of the new parliament for the week beginning May 4, enabling the election of a new government. He has also held combative interviews with public service media that previously ignored him, promising to suspend their news programs until they can appoint impartial editors.

Magyar, benefiting from a super-majority that exceeds two-thirds of seats, expressed intentions to implement laws limiting the prime minister's term to two; such a move would prevent Orbán, who has served five terms, from making a political comeback.

In a rare appearance, Orbán finally acknowledged his defeat, stating the need to "bear this defeat with dignity."

In the aftermath, Magyar has begun reaching out to the public, vowing to investigate and hold accountable the politicians and businessmen who profited illegally during the Orbán era.

As Tisza's new leadership prepares for the challenges ahead, including tackling Hungary's economic crisis and restoring democratic structures, the mood in the nation is one of eager anticipation for change.