Budapest real estate prices are sky-high!
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In Budapest, new housing prices have significantly risen within only a year. There are districts where the annual price increase is close to 50 percent! Continue reading this article to find out more.
Eltinga Budapest Housing Market Report has published its latest survey of the new housing market in Budapest. It shows that the price dynamics for new apartments have never been as intense as last year. Three months ago, the average price per square metre of new apartments in Budapest was 1,200,000 HUF (3,000 EUR). Now the average price per square metre is approaching 1,270,000 HUF (3,175 EUR), says Portfólió.
That is almost 6 percent higher than in March. The average real estate prices in Budapest are 28 percent higher than in last year’s May.
Just like in the previous quarter, prices have risen faster in Buda than in the rest of the city. The average price per square metre in Buda exceeds 1,500,000 HUF (3,750 EUR), reflecting a 10 percent increase there.
Budapest’s biggest price increases
On average, prices in the capital have risen by 28 percent in a year, but in some districts, the increase was significantly higher. In district I – presumably due to the lack of supply – new apartments are nearly 50 percent more expensive than this time last year. Moreover, in district XI, the price increase was over 40 percent.
In the inner city districts, however, prices seem to have stagnated for the time being. There are no measurable price increases in districts VI and VII. A 5 percent drop in price is noticeable in district V.