Lake Balaton as a suburban area of Budapest? Some trends point towards this

The Covid-19 pandemic accelerated some trends in the transformation of the Budapest agglomeration. Lake Balaton is getting increasingly popular not just as a holiday destination, but as a suburban “neighbourhood”, which is reflected in the real estate market as well.

Is it time to redefine the concept of the Budapest agglomeration? Well, that’s certainly an option if we take a look at buyers’ expectations of new houses and flats near Lake Balaton, according to Portfolio’s analysis.

Covid brought changes around Lake Balaton

The pandemic brought significant changes in many people’s lives, as priorities shifted. More and more people move their work, everyday and administrative tasks to the online sphere, while at the same time spending quality time in a more humanly residential area has also been changing.

Although Pest County is still the most sought-after area around Budapest to move to a suburban area, Lake Balaton and the surrounding small villages have started to become more attractive, according to Portfolio’s analysis. Instead of seasonal holiday homes, more and more people are preferring year-round, energy-efficient properties within one, one and a half-hour drive from Budapest.

The majority of buyers are still looking for a property for their own use or as an investment, but what is new is that more and more people are moving to the area of Lake Balaton for a living.