Hungary – luxury property sales are booming

In the first half of the year, the number of properties sold over EUR 3100/m² has doubled compared to the same period last year, while a 35% growth can be observed when it comes to 2018’s second half, reported Duna House to MTI.

According to the publication, the majority of these properties can be found in the inner Pest districts of the capital – the 5th, 6th, 7th districts – and in the newly built houses of the 13th district along the River Danube. It also needs to be mentioned that nearly 50% of the properties located at the Buda side were sold for a price of more than EUR 2,500 per square meter.

As far as the countryside is concerned, the most expensive properties – EUR 3100/m² – are sold at Lake Balaton, namely Balatonfüred on the northern and Siófok on the southern parts, while in the eastern side of the country, Debrecen bears the highest prices.

According to Károly Benedikt, the analytics leader of the Duna House real estate agency, more than 1.5% of property sales are realised at EUR 3100/m², which is not a significant proportion in itself; however, this amount represents 7% of total sales if the square metre price of EUR 2,500 is also taken into consideration.

All this shows that the most expensive category is characterised by continuous expansion.

As the Hungarian news portal 24.hu describes, high-value, premium properties represent significant supply in the Hungarian real estate market. By way of example, Duna House Prime offers more than 200 properties that are above EUR 308,000.

The luxury category includes houses, castles, and estates with fishing ponds, along with Buda apartments and Pest penthouses. Recently, the most expensive building has been an Art Nouveau hunting lodge which costs EUR 6.2 million.

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Source: 24.hu