Surprising turn: The most expensive street in Hungary was at Lake Balaton instead of Budapest in 2023

Budapest streets and squares were the most expensive in Hungary concerning property prices for decades. In 2023, the Aranyhíd promenade in Balatonfüred, a popular Hungarian bathing town near Lake Balaton obtained 1st place with HUF 2.64 million/sqm (EUR 6,410). In 2024, Budapest reclaimed the first position with HUF 3.775 million (EUR 8,990), a significant rise. Here is the most expensive street in Hungary this year.

According to origo.hu, the second place went to Budapest’s Kossuth Square, where the Hungarian Parliament is located, with HUF 2.54 million/sqm in 2023. Ruthén Street won third place in Budapest’s 2nd district with HUF 2.37 million/sqm. In the top 10 of 2023 were sqm prices between HUF 1.85 and 2.22 million (EUR 4,490-5,400).

The Kossuth Square is behind the Hungarian Parliament. Photo: depositphotos.com

The cheapest street in Hungary concerning property was Templom (Church) Street in 2023 in Kiskunlacháza, where you can buy a sqm for only HUF 23,000 (EUR 56).

According to the statistics, the most expensive areas in Budapest were the Türbe Square (2nd district), the squares near the Elizabeth Bridge, the Széchenyi wharf, the 15 March Square and some streets in the 2nd district. The cheapest streets and squares were in the 17th, 20th, and 18th districts in the capital last year.

The Tomb of Gül Baba. Check out our article about it HERE. Source: gulbabaalapitvany.hu

Outside Budapest, Lake Balaton and Zebegény (Danube Bend) were the most expensive. You had to pay between EUR 5,340 and 6,800/sqm for property in the most expensive streets and squares at the “Hungarian Sea”.

In 2024, Budapest reclaimed its first position concerning the most expensive property prices with HUF 3.775 million (EUR 8,990) in the 2nd district’s Türbe Square. The top 10 consisted only of Budapest streets and squares with prices between EUR 7,530 and 8,990.

A sqm in the cheapest streets in Hungary costs only HUF 16-19 thousand (EUR 40-45). According to the statistics, the price difference between the cheapest and most expensive streets in Hungary was 115-fold in 2023. That increased to 236-fold in 2024.

More bad news from Hungary’s economy: government deficit rises

Hungary’s cash flow-based general government deficit reached HUF 3,050.5bn at the end of October, the Finance Ministry confirmed in a detailed release of data on Friday. The central budget had a deficit of HUF 3,048.5bn at the end of the month and the social security funds were HUF 199.0bn in the red, but separate state funds were HUF 197.0bn in the black. Alone in October, the general government deficit came to HUF 427.0bn.

“The impact of unfavourable circumstances in the global economy can be felt in Hungary’s economic performance,” the ministry said. “After a temporary slowdown, Hungary’s economy will be on a sustained growth path and could be at the forefront in the European Union growth ranking in 2025, providing the foundation for a strengthening fiscal balance,” it added. Interest expenditures came to HUF 3,198.5bn in January-October, climbing by HUF 899.6bn from the base period, the ministry said, noting that the fall in forint interest rates started in 2023 was showing up in cash flow-based interest expenditures with a delay.

Interest expenditures will show a “clear decline” from 2025, it added. Budget spending on EU-supported projects reached HUF 1,299.6bn in January-October, while transfers from Brussels reached just HUF 999.8bn. The ministry reaffirmed the government’s commitment to improving balance indicators and bringing the general government deficit down to 4.5pc in 2024, 3.7pc in 2025 and to under 3pc in 2026.

Read also:

• Here are the top Hungarian cities for expats seeking a new home
• Regime change in parking in Budapest: Parking ticket machines may be removed in 2026 – details in THIS article