Looking to buy property cheaply in Hungary? Look here

Hungary is getting more and more popular among property buyers and real estate investors. While Budapest can be extremely expensive in that regard (we have written about the most expensive streets in the capital city here), there are some places where investing in property can be a bargain (find our article in the cheapest streets here). However, there are places even cheaper than that in Hungary. In this article, we are presenting to you a town where you can buy property for extremely low prices: Miskolc.

Miskolc is the county seat of Borsod-Abaúj-Zemplén county. Portfolio looked at the ten cheapest and the ten most expensive streets in Miskolc, based on the average price per square metre of the apartments that changed hands in 2021. Apart from Békéscsaba (county seat of Békés) and Salgótarján (county seat of Nógrád), Mickolc is the cheapest county seat in Hungary in terms of property prices.

According to the economic news portal, the price of a house in Miskolc is typically lower than that of an apartment. That is, when the prices per square metre are compared.

• Read also: Drastic change in Hungary’s property market

The most expensive streets in Miskolc

If you do not want to stick to the Hungarian capital, even the most expensive properties in Miskolc are well-priced compared to those in Budapest. In the most expensive streets, the average house price in Miskolc reaches HUF 500,000 (EUR 1298) per square metre.

1. Knézich Károly Street (HUF 529,000/square meter) (EUR 1373)
2. Dóczy József Street (HUF 490,000/square metre) (EUR 1272)
3. Városház Square (HUF 453,000/square metre) (EUR 1176)
4. Dayka Gábor Street (HUF 446,000/square metre) (EUR 1142)
5. Arany János Square (HUF 436,000/square metre) (EUR 1131)
6. Görömbölyi Street (HUF 406,000/square metre) (EUR 1054)
7. Perczel Mór Street (HUF 396,000/square metre) (EUR 1028)
8. Kiss József Street (HUF 391,000/square metre) (EUR 1015)
9. Aulich Lajos Street (HUF 386,000/square metre) (EUR 1002)
10. Szent László Street (HUF 384,000/square metre) (EUR 996)

• Read also: MAP: These are the favourite areas for home buyers in Hungary

The cheapest streets in Miskolc

There are five county seats in Hungary where the average price of sold apartments in the cheapest streets did not even reach HUF 100,000 (EUR 260). These are Miskolc, Salgótarján, Békéscsaba, Pécs and Tatabánya. Out of these, in Miskolc and Salgótarján, it did not even exceed HUF 50,000 (EUR 130). The average property price in the cheapest streets in Miskolc was only around HUF 100-150,000 per square metre and included the following streets:

1. Áfonyás Street (HUF 207,000/square meter) (EUR 537)
2. Vasgyári Street (HUF 202,000/square metre) (EUR 525)
3. Papszer Street (HUF 184,000/square metre) (EUR 477)
4. Feszty Árpád Street (HUF 167,000/square metre) (EUR 433)
5. Lónyay Menyhért Street (HUF 162,000/square metre) (EUR 420)
6. Kapos Street (HUF 159,000/square metre) (EUR 413)
7. Avasalja Street (HUF 150,000/square metre) (EUR 190)
8. Debreczeni Márton Square (HUF 87,000/square metre) (EUR 226)
9. Vár Street (HUF 44,000/square metre) (EUR 114)
10. Vikend telep (HUF 27,000/square metre) (EUR 70)

The future of the property market in Miskolc

How will property prices in Miskolc develop in 2023? Looking back over the past year or two, Portfolio writes, the current market environment is more uncertain than ever. However, it is clear that in the coming months, we should expect lower transaction numbers and longer selling times across the country compared to previous years.

Read alsoHungary’s cheapest villages: EUR 7500 for a family house

Source: portfolio.hu, DNH