Back in 2020, when the coronavirus pandemic first hit Hungary, many things were expected to die down or become cheaper, but in a lot of cases, what happened is quite the opposite. Many people have said that due to the uncertainties brought by the pandemic and the restrictions, the price of real estates will fall or stabilise, but after almost an entire year of living with restrictions, we can certainly say that this did not happen.
The real estate purchases in 2021 have already broken records, but unfortunately, it comes with an increase in prices as well. Many Hungarians moved to the Lake Balaton area and purchased family and vacation houses after the months-long confinement in city flats. This rush in the real estate market has raised prices as well.
Otthon Centrum, one of the leading companies in the Hungarian real estate market, reported to MTI that the price per m2 of used family, semi-detached, and terraced houses in municipalities has increased by a striking 18.7% in the first four months of 2021, compared to the same period last year.
It becomes evident from the company’s statistics that brick-built apartments are more coveted than towerblock apartments, as the former’s price per m2 has increased by 11.4% and the latter’s has only done so by 9.3%.
24 also reported about this and, according to the data, the most expensive Hungarian municipality in terms of house prices per m2 is Sopron.
The historical city in the north-western area of Hungary, located right next to the Austrian border, has become increasingly popular over the past decade due to the closeness of the border and the possibility of working in Austria for higher wages than in Hungary. This caused demand to increase significantly and has made house prices skyrocket.
The statement said that the average price per m2 of pre-owned real estate was around HUF 286,000 (€817). In contrast, in Sopron, these prices hit over HUF 440,000 (€1,255).
In the first two categories, Salgótarján was the most inexpensive, with around HUF 100,000 (€285) lower in prices per m2 than the average.
Source: MTI, 24.hu