Average price of apartments in Budapest reaches historic high
Have you ever seen an apartment costing up to HUF 4 million (EUR 10,255) per square metre? Now you will. In Budapest, the average price per square metre of newly built apartments reached HUF 1,554,000 (EUR 3985) last year.
The average price per square metre of newly built apartments in Budapest reached HUF 1,554,000 in the fourth quarter of last year. However, the rate of the increase in prices has slowed down, Otthon Centrum told MTI on Tuesday.
More than EUR 10,000 for one square metre?
The average price of roughly HUF 1.5 million is a significant spread, as Otthon Centrum measured a significant price difference between the neighborhoods, Telex writes. The average price per square metre varies between HUF 948,000 (EUR 2431) and HUF 2,895,000 (EUR 7425). Meanwhile, the most expensive property has increased to HUF 3.9 million (!) per square metre. This means, as Telex puts it, that sitting on a larger toilet, you can feel like you’re sitting on almost HUF 4 million – almost the average annual net salary, according to the latest figures from last year.
The list of the most expensive districts are led by District V. There, one square metre costs an average of HUF 2,895,000 (EUR 7425). District V is followed by District II with HUF 2,710,000 (EUR 6950) and District I with HUF 2,630,000 (EUR 6745). In the other districts of Buda and the city centre, the price per square metre of newly built flats is around HUF 1,500,000 (EUR 3846), ATV reports. Meanwhile, in the outer districts of Pest and in District XXII, the price per square metre is around HUF 1,000,000 (EUR 2563). District XXIII remains the cheapest, with an average of HUF 948,000 (EUR 2430).
346 projects, 27,900 dwellings in Budapest currently
In the fourth quarter of last year, there were 346 new housing projects under construction in Budapest. Within the framework of these, 27,900 dwellings are under construction, ATV writes. It was pointed out that with 72 projects and 8,900 apartments, most of the investments and apartments continue to be built in District XIII. This district has held steady in first place for years. In second place is District XI with 43 projects and 5,600 dwellings under construction. District V has the lowest number of projects and dwellings, with only one project offering dwellings.
Read alsoNobody thought this could happen in Hungary’s property market
Source: atv.hu, telex.hu
This article, read over the past 9 months every article published by DNH – the clear picture in relation to the Real Estate – Property Market & the Construction Industry, is that PRICIES – across ALL these areas under the one banner of the Real Estate/Property Market, prices, from the CLOUDS that they wrongfully reached or where pushed to falsely, damaging in there ascendency, the economy of Hungary, preventing the DNA direct lines of normal & ordinary, hard working Hungarians from “getting” into – prices HAD to Fall.
Post February 2020 – what Hungary has had to FACE, and we continue in a MASSIVE downward trend in the overall position of our weakening Economy.
There are NO indicators that give credence – supported by Economic & Financial relevance, that the Hungarian economy is capable of SUSTAINABILITY, but its trend still gives ALL factual indication, of a continual downward momentum.
The Orban led Government of Hungary, has been Major players “Driving” the Economy of Hungary to what we are living in dealing with in our daily lives.
Victor Orban – he has total OWNERSHIP on him, the separation, division, isolation, destruction and eradication -the RESPECTED historical reputation of Hungary, but Orban in fact – created an image of Hungary, centered on our relationships – with not just the Family of European Country’s or NATO – but Globally, excluding Russia & China who are Hungary’s “Closest” friends, the image Orban has CREATED is APPALLING.
Stabilization – Sustainability, the growing and development of the Hungarian economy, that witnesses INVESTMENT coming into Hungary – for what we have to offer – this is NOT what is GOING to HAPPEN, under the Orban Government.
The CONUNDRUM – that the Real Estate/Property Market & Construction Industry – are FACED with, will be carnage, which, is factually HAPPENING, but being “Suppressed” from the citizens of Hungary, through the exercising of the Orban Government, its power & control over the media.
Hotels – new & renovated – another cataclysmic MESS.
Mindboggling – we build on and renovate in Budapest, Hungary.
Saturated likened to the Real Estate/Property market – the over supply, lacking patrons, that summer with what still is to happen in Hungary and wider Europe – that sees at present a FIGHT to Survive mentality – within the Hotel industry, and internally, likened to a “Lions Den” – that sees GRAVE un-certainty – going forward, in its SUSTAINABILITY of numbers – Hotels in Budapest, Hungary.