Budapest’s greatest housing projects

The number of given building permissions begin to reach the pre-crisis level, so the number of completed housings might also increase soon. In many cases, it is sufficient to go through some high-profile improvement, and the city or district might extend by several hundreds of flats. Let’s take a look at the location and features of Budapest’s greatest residentials, according to portfolio.hu‘s compilation.

It is a good idea to take your time

Currently 392 projects are registered in the Budapest Housing Market Report, 13,235 housings altogether, and it gives a trustworthy basis for the examination of market processes. The high need for new housings shows that most of them are already sold during the construction phase, so only 400 turnkey apartments are left in Budapest today. However, the variety is wider concerning the housings being ready by the next quarter. If we don’t want to move in immediately, but are able to wait even half a year, then we have a choice of 1700 housings. If we can wait even until 2018, we will have 5-6 thousand dwellings to choose from. Naturally, we have to pay a certain part of the price for it, so it is a good idea to learn about the exact purchasing constructions.

Rising prices

New housings’ prices increased significantly through the recent years just as used ones’. While the average size of constructions increased from 61 to 65 square meters in one and a half years, the average prices grew from 32 million to 46 million forints. This means that the average price per square meter increased from 520,000 to 700,000 forints. It is important to note though that it is much cheaper in most of the districts, and the average is strongly hoisted up by the luxury houses of District V and Buda mountainside. One thing is for sure: in a district with a better location, the price per square meter is around 600,000 forints.