Budapest’s real estate market continued to surge in 2024 with rising prices – What to expect in 2025?

Budapest’s real estate market is thriving, with property prices surging by 11.8% over the past year, outpacing the national average. From luxurious districts to affordable suburbs, the capital is the prime destination for both investors and homebuyers. But what about the prices in the countryside?

Budapest’s real estate market on the rise

As VG reports, Budapest’s real estate market is witnessing a remarkable upward trend, as highlighted by Ingatlan.com’s December 2024 price index. While Hungary experienced a nationwide annual housing price increase of 7.8%, Budapest outpaced this with an impressive 11.8% rise. The average price per square metre in the capital now exceeds HUF 1 million (EUR 2,417), reaching HUF 1.16 million (EUR 2,804) on average. Depending on the district, resale residential properties range between HUF 739,000 (EUR 1,786) and HUF 1.9 million (EUR 4,593) per square metre, while new properties command prices between HUF 933,000 (EUR 2,255) and HUF 2.9 million (EUR 7,010). This surge reflects both a strong demand and the anticipated return of investors to the market.

Budapest’s outer districts and suburbs are increasingly appealing to buyers seeking affordable options, a trend mirrored in other large Hungarian cities. December 2024 saw a monthly national price increase of 0.8% for residential properties, with Budapest’s prices climbing by 2.4% in the same period. These figures underline the robust momentum in Budapest’s real estate market, positioning the capital as a hotspot for both domestic and international property investment.

budapest property real estate housing residential area university apartment hotel inflation Budapest's real estate market
Budapest, Hungary. Source: depositphotos.com

Differences between the districts

Naturally, Budapest’s real estate market continues to lead Hungary’s property landscape. Resale properties average HUF 1.12 million (EUR 2,707) per square metre, while new builds range around HUF 1.4 million (EUR 3,384). Districts 11 and 13 see prices around HUF 1.4 million (EUR 3,384), contrasting with the more affordable districts 18 and 20, where resale homes average HUF 863,000 (EUR 2,086), and new apartments remain under HUF 1 million (EUR 2,417). Meanwhile, in District 12, new properties reach a staggering HUF 2.9 million (EUR 7,010) per square metre. These figures reflect the market’s alignment with rising investor interest, which is expected to moderate the pace of price increases in 2025.

What about the countryside?

Beyond Budapest, cities like Debrecen, Szeged, and Győr have emerged as regional leaders for resale properties, with prices ranging from HUF 783,000 (EUR 1,893) to HUF 892,000 (EUR 2,156) per square metre. Szeged also tops the new-build rankings in the countryside at HUF 1.14 million (EUR 2,756) per square metre, while more affordable options exist in cities like Szekszárd and Békéscsaba, where prices range between HUF 656,000 (EUR 1,586) and HUF 682,000 (EUR 1,649). The diverse pricing and opportunities across Budapest and regional markets highlight the varied appeal to investors and homebuyers alike, catering to different budgets and preferences.

Szeged real estate cityscape
Szeged Photo: depositphotos.com

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Featured image: depositphotos.com

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