Budapest real estate prices are astoundingly high

It has been all over the news recently that real estate prices in Budapest do not seem to stop increasing. Now, prices have reached a point where it is almost unbelievable: in certain districts, apartments retail for 3,145 Euros per m2. If it does not seem high enough, keep in mind that the average net monthly wage is around 663 Euros.

According to a quantitative survey conducted by Hungarian bank OTP, the average price of m2 can be more than 3,145 Euros (1 million Forints) in certain districts of the capital, namely in Districts I, II, V and XII.

OTP also warns that prices in other districts can also get this high within a couple of years, Szeretlekmagyarország.hu reports. In particular, the m2 prices of Districts VI, VII, VIII, IX, XI, III and XIII are expected to reach the 3,145 Euros price range in the future.

Regardless of the high m2 prices, collected data seems to indicate that the No. of sales will still increase in 2019, and it will probably reach its high point, according to OTP’s survey.