Real estate prices have been rising throughout the capital, but now this trend can also be seen in the wider metropolitan area, turizmusonline.hu reported. How far do you need to go to find a house or apartment with favourable prices that are still within commuting distance from Budapest?
There are huge differences concerning the real estate market trends in Budapest and the surrounding cities and towns. Ingatlan.hu completed a survey analysing about 10 thousand real estate ads written by individuals. László Balogh, an economic expert, says that although there are less new real estate adverts, the number of houses on the market is basically still the same, which means, that there are a lot of houses that cannot be sold. Most people choose from new listings, which means that apartments and houses get sold quicker. He also mentioned that the number of ads listed by real estate agents is 5.4% smaller than it used to be in the capital city.
Prices in the metropolitan area
The average price per square meter in Budapest is 514 thousand Ft in the case of second-hand apartments, but it is at least 300 thousand even in the cheapest neighbourhoods in Budapest. Right outside of the capital city prices are around 200-300 thousand, but if you want even cheaper, you will have to travel a lot more. Read more about real estate prices in Hungary by clicking here.
If you are searching for prices below 200 thousand Forint, you should look at least 30 kilometres away from Budapest.
You will have a greater chance of finding something in the areas that are 40-60 km from the city. People prefer towns and cities that are only a train ride away from Budapest – says Károly Benedikt, Head of PR and analysis at Duna House.
Let us take a look at the South-eastern part of the metropolitan area. A few years ago you could buy a reasonably priced house in Gyömrő. Now, you need to go as far as Sülysáp or Tápiószecső for the same prices.
But even there, if a house was worth around 10-12 million Ft a few years ago, now it is probably around 16-18 million.
There are slightly cheaper houses in Tápióság, but you would need to take a bus from there to get to the train station.
Lower prices mean more travelling
Bicske and Monor are less than 40 km from Budapest. Prices are more favourable here, but you should also calculate the amount you would spend on transportation. It would take at least half an hour to get to the main train stations in Budapest, and if you are driving, it will take anywhere around 40-80 minutes to get to downtown, depending on traffic. Train tickets are 24,900 Ft from Bicske, 14,200 Ft from Monor for a month. Gas would be about 1-2000 Ft for every day you need to drive into the city.
Some people commute from even greater distances, like from Székesfehérvár or Tatabánya. This train ride would take about 45-50 minutes, but real estate prices are still around 200-250 thousand Ft.