Balaton holiday home prices are sky-high: but where are the highest?

The prices of holiday homes in Hungary can be drastically different according to their location. The difference can be as great as HUF 37 million, Népszava.hu reports. The most expensive regions in Hungary are still the areas around Balaton and Lake Velence.

Price increases

According to the analysis of Otthontértkép Csoport, holiday houses cost way more than two years ago, HUF 61,000/m2 more to be exact. Currently, a holiday house or apartment costs HUF 276,000 per m2 on average.

However, experts say that the major price increase is behind us, it happened last summer. In the Balaton region, holiday house prices increased by 11%, while prices around Lake Velence increased by 13% between 2016 and 2017.

In contrast, between 2017 and 2018, prices increased only by 4.5% in the Balaton region and by 7.4% around lake Velence. Interestingly, prices decreased by 6% in Balatonfüred. This is probably due to the ending of the World Aquatics Championships.

Where are the highest prices?

You will find the most expensive holiday houses in Siófok, where the average price is more than HUF 40 million. Siófok is still the most popular destination on the South side of the Hungarian sea. Balatonföldvár and Balatonfüred are not so far behind with HUF 37 and HUF 34 million.

Ferris Wheel in Siófok, Photo: www.facebook.com/SiófokÓriáskerék

Holiday houses around Lake Velence are considerably cheaper compared to the ones around lake Balaton (HUF 15 million). Holiday houses can be purchased for less than HUF 5 million in areas around Monor, Kunszentmiklós and Szarvas. The cheapest holiday houses, however, can be found around Miskolc for an average price of HUF 3.5 million.

Of course, location is not everything. Holiday house prices are influenced by many other factors such as the state of the house (old or new) or its materials (wood or brick). A newly built apartment costs 42%, while recently renovated one cost 6% more than average.

The future

Even though Balaton and Lake Velence are still the most popular holiday destinations, investors started looking for less popular places with a lot of potentials to grow, such as Keszthely or Hévíz. These are beloved places that still have relatively few newly built apartments, told Nándor Mester from Otthontérkép Csoport.

Featured image: Facebook.com/LakeVelence

Source: www.nepszava.hu