Housing to become unaffordable in Hungary soon?

County house prices have risen 12.7 per cent, and property prices at county seats have risen 16 per cent since last summer.

Not too long ago, Daily News Hungary wrote that many Slovak citizens were buying houses in the northern side of Borsod County due to low real estate prices. In Kassa, the average cost per square metre was 1,325 euros in 2020, while in Northern Hungary, one square metre cost only 372.94 euros. Real estate in villages of the Borsod area cost even less. Here, the average price was 197.77 euros

Read alsoSlovak citizens flooding villages in NE-Hungary for cheap real estate?

Now Index wrote that used housing prices have been rising since 2014, but they went up even more from 2020 to 2021. In the southern and eastern parts of Hungary, the increase was much higher than in the western region.

In Komárom-Esztergom county, the rise was 21%, in Zala 23%, in Heves 24%, in Veszprém 35%. The lowest increase in prices is in Jász-Nagykun-Szolnok county, where prices have dropped by 10%.

On the scale of specific locations, housing in Szolnok and Budapest saw a 3% rise, followed by a 21% rise in Veszprém, 22% in Debrecen and 29% in Miskolc. The highest price increase is in Tatabánya with  37%, and the highest growth was measured in Salgótarján, where prices for housing have gone up by an astonishing 48%.

This year July, 444.hu wrote that Hungarians need 8.4 years worth of gross average earnings in order to buy a 70 square meters apartment.

The average price in 2020 was 1,657 euros per square meter in Hungary. In Budapest, the cost was a bit higher, 2,207 euros per square meter in newly built apartments. Renting a place in the capital cost 9,76 euros per square meter on average.

Read alsoHere are the cheapest Budapest districts for renting an apartment

Source: Index, 444, DNH