Real estate in the CEE region: Central European capitals remain affordable, but how is Budapest performing?

According to a comparison of the home markets in capitals in neighbouring countries (Czechia, Poland, Romania, and Slovakia), Budapest’s real estate is among the region’s most affordable.

Average real estate price in Budapest

“In Budapest, the average real estate price per square metre of used condominium apartments already crossed the HUF one million psychological threshold in the second half of 2024, according to KSH data. Since then, the housing market in Budapest has seen a gradual price increase. According to Ingatlan.com’s housing price index, Budapest house prices rose 18 percent year-on-year in March. It may surprise many that despite the significant price increase, Budapest is relatively cheap compared to other regional capitals,” said László Balogh, chief economist at Ingatlan.com.

Central and Eastern European real estate prices per sqm

Home prices in Budapest stand at a little over HUF 1 million (EUR 2438)/square metre, well under prices in Prague, where homes cost the equivalent of HUF 2.2m (EUR 5364)/sqm, ingatlan.com said, citing data from local statistics offices and national banks. In Warsaw, home prices average HUF 1.5m (EUR 3657)/sqm, and close to HUF 1.4m (EUR 3413)/sqm in Bratislava. Bucharest is the cheapest capital for home prices: there, buyers pay HUF 850,000 (EUR 2072)/sqm.

How many years of work does it take to buy a property?

The data show that Hungarians earning the average wage must work 7.7 years to buy a 50-sqm flat in the capital. In Prague, locals must work 11.7 years to buy the same home. In Warsaw, the period is close to ten years, and in Bratislava, it is under nine. In Bucharest, locals have to work 6.5 years to save enough for a 50-sqm home.