Do you want to buy a castle in Hungary? – These are the most special properties for sale

A nine-square-metre apartment in Pest and a two-storey house in Érd, which has been advertised continuously for six years, will also appear in this year’s selection of real estate market curiosities.

A thousand-square-metre Simonfa castle on a one-million-square-metre plot with a tested well producing one hundred thousand litres of mineral water per day: this is the advertisement leading according to size the category of Hungarian residential properties currently for sale, priced at HUF 750 million (€2 million), writes vg.

Among the special and weird offers, the property with the smallest floor area for sale is listed in District VII, on Sajó Street. 

The apartment of only 9 square metres is one of the most expensive at the same time, as its owner is asking for 16.2 million forints (€45 thousand), i.e. they want to get rid of it at a price of 1.8 million forints per square metre.

Incidentally, the tiny property functionally has everything, even natural light through its large window. The most expensive property for sale again this year is located on Andrássy Avenue, a 2,000-square-metre palace that stands on a 1,150-square-metre plot. The price is 5.7 billion forints (€15.8 million), which means that the Hungarian lottery five, which was taken home last Saturday, would not be enough to buy it.

The cheapest property is a ruined adobe house located in the village of Négyes, Borsod-Abaúj-Zemplén County, just 8 km from the River Tisza. The purchase price of the 60-square-meter property is HUF 300,000 (€831), and although it is not habitable in its current condition, water and electricity are running on the 600-square-metre plot.

The property for sale, which attracts the most interested people, is a 40-square-metre condominium apartment in Zugló, Budapest, which is only HUF 14.9 million (€41 thousand), but it was announced for sale in the autumn of 2019 and for some reason still has not found a buyer.

For the longest time, a two-storey, 140-square-metre, four-room detached house has been advertised in Érd, and the HUF 49.9 million (€138 thousand) property has been up for sale since September 2014.  The fastest transactions include properties sold in one day, and there are some of these. Of the 450,000 residential properties advertised on Ingatlan.com in 2020 but which are no longer available, 6,953 were sold in a single day. This is 1.5 per cent of the stock.

The top of the bargains, i.e. the biggest price change this year was connected to a 49-square-metre panel apartment in Újpalota, which was initially announced at a price of HUF 42 million (€116 thousand), then it was sold on the market at a price of HUF 20.9 million (€58 thousand).

This is a price drop of more than 50 per cent, which is not surprising at all, according to László Balogh, the leading economic expert of Ingatlan.com. As he pointed out, the market for panel apartments was thoroughly affected by 2020, specifically, the largest price drop typically occurred in this category as a side effect of the coronavirus epidemic.

There is a panel apartment the price of which fell over 50 per cent.

Most of the interest came from the properties for sale advertised in the districts of Budapest. In first place is District XIII, followed by districts XI and XIV. The least amount of interest is connected to not one but 22 villages, which include Ártánd, Esztár, Kaszélyosdombó, or Tormás. As for rental apartments, the leaders are the same as in the case of real estate for sale: District XIII is in the lead, then districts XI and XIV follow. There were 36 settlements this year that attracted the least amount of interest (not one customer), such as Alsózsolca, Feketeerdő, Nagylózs, and Recsk.

• Growth of real estate prices slowed down in Budapest, rental prices to continue to fall
• The biggest Hungarian real estate trends of 2020

Source: vg.hu