Current house prices in Budapest: Fewer affordable districts remain

House prices in Budapest have surged in the first two months of the year, driven by record-high demand in the real estate market. Price increases have nearly matched those recorded by experts at Duna House over the entire previous year. Following a 6% rise, the average square metre price of pre-owned properties in the capital is now approaching HUF 1 million, although more budget-friendly locations can still be found in Rákosmente, Pestszentlőrinc, Pestszentimre and Soroksár.

Current House Prices: House Prices 6% Higher

The real estate market in Budapest has responded to strong buyer demand with significant increases in house prices: compared to the average square metre price calculated from 2024 transactions, the asking price for houses in Budapest is now 6% higher, amounting to around HUF 996,000 (EUR 2,474) per square metre, according to Duna House data.

In January and February of this year, purchasing a home in the capital cost buyers an average of HUF 74.8 million (EUR 185,832), which is 21% higher than during the same period last year. Additionally, the average property size grew by about half a room—approximately 10 square metres—from last year’s 65 square metres.

“The impact of the record-breaking interest at the beginning of the year has reached the Budapest property market faster than expected. Compared to 2023 levels, last year’s upswing raised square metre prices by 7% over a full year, and the average based on January-February transactions is already showing almost the same rate of increase,” said Ferenc Máté, Deputy CEO at Duna House.

Meanwhile, according to Duna House transaction data, there are areas in the capital where the average square metre price is around two-thirds of the citywide figure. Currently, the southeastern border districts on the Pest side—Rákosmente, Pestszentlőrinc, Pestszentimre and Soroksár—are considered the most affordable locations in Budapest, with average house prices below HUF 700,000 per square metre.