Budapest real estate: most people move to these districts

Check out which district most people chose to live in in 2019 in Budapest. Data is provided by the Central Statistical Office, while ingatlan.com did the survey. People moved around a lot in 2019 in Budapest, and many favoured the agglomeration over the capital.

The survey looked at 39,000 pieces of real estate. Data used in this survey does not cover the impact the global pandemic had on the real estate market in Budapest, Forbes reports. Data reveals that people do not seem to be so fond of Budapest as before:

Six thousand more people left the capital than moved in. Almost 40,000 people moved to the agglomeration, and 61,000 people moved to a different district than where they had lived before, and around 46,000 people moved but remained within the same district.

Budapest real estate prices have been increasing for years, and prices only started to go down in the second half of 2019. This encouraged a lot of people to move to the outer districts of the city where m2 prices are more affordable.

People favoured the following districts the most:

• District XI (had the most movement, 5 thousand people left but 5,400 people moved in)
• District XIII (4800 people left, 4500 people moved in)
• District XIV (4,800 people left, 4,500 people moved in)
• District XVII (1045 people moved in, relatively cheap)
• District III (785 people moved here)
• District XXII (614 more people moved here than left)
• District XVI (696 more people moved here than left)

These districts were not so popular:

• District VIII (over 1000 people left)
• District IX (over 1000 people left)

People proved to be most loyal to their districts in Districts XXI, III and XVII. On average, 28-38% more people moved within the district borders than those who left for another district. 

Several factors could have an impact on these trends. District XXI, for example, has the lowest real estate prices; therefore, not many people can afford to move somewhere with much higher m2 prices.

Real Estate prices in 2020

District XXIII is the cheapest with an average of 1,300 Euros (476,000 Ft)/m2, while District V is the most expensive one with 3,350 Euros (1.2 million ft)/m2. The average m2 price in District XI is around 2,255 Euros (808,000 Ft), in District XIII it is 2,268 Euros (813,000 Ft), and in District XIV it is less than 1,953 Euros (700,000 Ft). Prices are much lower in the outer districts of the capital like District XVII with its 1,484 Euros (532,00 Ft)/m2 average.

Source: www.forbes.hu