SHOCKING: Budapest property prices exceeded psychological barrier

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The average sqm price of a Budapest brick apartment reached HUF 1 million (EUR 2,516), which means it exceeded a psychological barrier.

According to 444.hu, 2024 began with a property price rise in Budapest. In the first two months, the average sqm price of the brick apartments in the capital grew above HUF 1 million (EUR 2,516), Duna House told MTI, the Hungarian News Agency.

Of course, price differences between the districts are significant. Sqm prices vary between HUF 558 thousand (EUR 1,403) and HUF 1.3 million (EUR 3,270) based on the purchases of the first two months.

On existing apartments, buyers spent HUF 56.5 million (EUR 142,156) in Budapest. In most districts, HUF 40 million (EUR 100,000) was enough to buy a 40 sqm property.

Budapest property prices exceed psychological barrier

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Duna House highlighted that prices went up despite the low demand and number of transactions in 2023, both on the market of existing and newly-built apartments.

According to their data, the most affordable district of Budapest in January-February was the 19th, considering brick apartments (EUR 1,403). The most expensive (EUR 3,270) was the 1st district (where the Buda Castle and many other popular tourist hotspots are located).

A newly-built apartment’s price is above HUF 3 million in the 1st district (EUR 7,548).

Read also:

  • Shocking housing market trends: foreign renters drive up prices in Budapest? – Read more HERE
  • Helpful initiative: Budapest launches Home Agency to match renters with homeowners – Details in THIS article

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