Penzcentrum.hu collected the places you can buy newly built apartments in Budapest, and also their prices. To finish their summary, they averaged the price/square metre rate of more than 13 thousand newly built apartments.
Budapest Apartment Market Report’s newest study, based on data from the first quarter year, has been published, and one thing is quite clear: after the market of used apartments, Budapest’s newly built apartment market has also vivificated. Developers are more and more active, the supply is huge and it seems like this tendency will continue in the upcoming years.
The experts of Eltinga, Ecorys and FHB Index have already counted 400 resident estate developments in the capital city, and the number of newly built apartments exceeds 13 thousand.
As a reminder: the report only counted 255 developments and 3400 apartments in the third quarter of 2016, while they “only” listed the data of 11 thousand apartments in the last quarter of last year. Looking into the study, it can be stated that an average newly built apartment in the capital city
- has two and a half rooms
- has a ground-space of 61 m2
- and costs ~148,143 euros (46,152,579 forints).
However, it is worth looking at the city from a wider perspective, because apartment market rates can generate quite serious swings. For instance, it is apparent that Danube is a real divide in price regarding the Buda-Pest spectre. Average apartment prices cost almost ~32,100 euros (10 million forints) more on the western side of the Danube than on the eastern.
The comparison of districts says even more about the parted situation: the 5th district is still in the lead with the average apartment price of ~526,417 euros (164 million forints), and this is also where apartments with the biggest ground-space are found. On the other side of the scale, the cheapest apartments can be found in the 19th district, where average sized apartments are sold for ~83,456 euros (26 million forints).
The 5 most expensive districts (2017 first quarter, average prices):
- 5th district: ~526,417 euros (164 million forints)
- 12th district: ~349,875 euros (109 million forints)
- 2nd district: ~269,628 euros (84 million forints)
- 6th district: ~215,061 euros (67 million forints)
- 1st district: ~205,431 euros (64 million forints)
The 5 most affordable districts (2017 first quarter, average prices):
- 19th district: ~83,456 euros (26 million forints)
- 15th district: ~84,420 euros (26.3 million forints)
- 18th district: ~93,086 euros (29 million forints)
- 10th district: ~94,690 euros (29.5 million forints)
- 23rd district: ~97,900 euros (30.5 million forints)
It’s not too surprising, but still worth mentioning that apartments with the smallest ground-space are found in the 7th (46 m2) and 8th district (48 m2). Furthermore, it seems like the 10+10 CSOK (government’s housing subsidy scheme) is living up to the government’s hopes, because average ground-space in most districts match to the conditions of the support.