By the end of this summer, the average square metre price of new flats reached 900,000 HUF (2,700 EUR) in the Hungarian capital. The most expensive district is still the fifth, while in the twenty-third, people can still find flats at reasonable prices.
Portfólió reported that statistics examined 24,000 available flats in the capital, and the differences are significant. The number of availability is lower by 5% than it was last year, but there are 500 more buildings than in 2018. The market for new flats has shown a drastic decrease because only 800 new homes are available, which is less by 72% than it was in the spring. The average square metre has not changed: most of the flats are between 61 and 65 square metres. On the other hand, this cannot be said about their prices.
Four years ago, a 60-square-metre flat cost 34 million HUF (93,000 EUR), while this year, it is 66 million HUF (192,700 EUR).
Currently, there are seven districts in Budapest where the square metre price of flats is above 1 million HUF (3,000 EUR). These ones are, for example, districts 5, 7, and 8. The most expensive one is District 5 where this price is almost 2 million HUF (6,000 EUR). All this means is that an individual has to pay approximately 123 million HUF (360,000 EUR) for an average 64-square-metre flat (living room, two bedrooms) in the heart of Budapest. In districts 12, 1, and 2, the average price is approximately 1.5 million HUF (4,380 EUR). In the ninth and thirteenth districts, the price is 850–900 thousand HUF (2,490–2,600 EUR), which means 55–58 million HUF (160–169 thousand EUR) for 64 square metres.
The cheapest districts are districts 17 and 23, with an average price of 600,000 HUF (1,750 EUR).
Featured image: Daily News Hungary
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