Housing market in Hungary – what are prices like in the countryside vs near Lake Balaton?

Property prices have been on a steady rise for the past few years. However, there are significant differences in the price in the different parts of the country. For instance, real estate near Lake Balaton is much more expensive than houses in the Hungarian countryside.

Due to governmental financial aid that supports those who want to buy a new home in the countryside, the prices are now also rising in the rural areas of Hungary. In just one year, prices increased by 10%. However, the supply is also expanding, reports Forbes.

In the villages that are eligible for the government’s program, the number of available properties increased. In May, there were 14,835 properties up for sale. By the end of June, this number grew to 15,220, showing a 2.5% increase.

The governmental financial aid will be available from July.

Since the countryside offers properties for a far lower price, experts say that people could move 40-50 kilometres farther away from big cities. Moreover, with the development of the transport infrastructure, villages that are even farther could become popular.

At the moment, the average price of a home in villages that are eligible for the governmental program is 9 million forints (27,801 EUR). Just a year ago, the average price was 8 million forints (24,712 EUR), which shows an over 10%-increase.

The prices vary a lot depending on the location. In the Eastern part of the country, properties are much cheaper than in Budapest or Lake Balaton, for instance, which are the most expensive regions.

When it comes to holiday houses, prices are still the highest near Lake Balaton. However, real estate near Lake Velence is also getting more expensive. For instance, the prices this year are higher than last year, reports Forbes.

Near Lake Balaton, the average price per square metre is around 421 thousand forints (1,300 EUR).

The most expensive holiday homes were sold in Siófok. Second place goes to Balatonalmádi while Balatonfüred takes the third place. On the other hand, in 2018, the cheapest holiday homes were offered in Keszthely, at a 225 thousand Huf/m² (695 EUR) average price range.

The second most expensive region is near Lake Velence. However, the prices are much lower than near Lake Balaton. The average price per square metre is 262 thousand forints (815 EUR). Interestingly, the average price of holiday homes is higher in both places than the average price of residential properties.

The cheapest holiday homes can be found in the region of the Mecsek Mountains and Villány, with an average price per square metre being below 100,000 HUF (308 EUR). If someone is looking for a property near a lake in Hungary, their best choice is near Lake Tisza.

https://dailynewshungary.com/chinese-are-experienced-on-the-hungarian-real-estate-market/

Source: forbes.hu