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These are the apartments that Hungarian billionaires buy in Budapest
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Penzcentrum.hu collected the most expensive estate developments in Budapest. They averaged the square metre price of almost 11 thousand newly built apartments in the capital city to put together a top list.
News about Hungarian apartment market used to be about the lack of developments and low demand until a few years ago. But this has changed: developers are more and more active, the demand is huge and it seems like this tendency will continue in the upcoming years as well.
This is proved by the newest data from the Budapest Apartment Market Report. While the joined collection of Eltinga, Ecorys and FHB Index listed the data of 3400 apartments in the third quarter of 2016, this number has come near to 11 thousand now.
What do the numbers indicate?
Moreover, if we take a careful look at the data of the report, we realise that, with the increase of project numbers, the specific price of new apartments has also grown, while their ground-space has decreased. Currently the ground-space of an average newly built apartment in Budapest is 58 m2 (it was 63 m2 in the third quarter of 2016), and their square metre price is 776 thousand forints (it was 661 thousand in the third quarter of 2016).
However, things are much more complicated, which is perfectly shown by the extremities: the cheapest apartment costs 290 thousand forints/square metre in the 21st district, while the most expensive apartment can cost 1.65 million forints/square metre.