All you need to know if you want to buy a flat in Hungary
As portfolio.hu reports, we can see new houses being built every day in Hungary, but how many houses are built, and where? In their analysis, they checked the parts of the capital where customers can choose from the widest range of flats. These differ in ground space, the arrangement of rooms and price as well.
In the capital, tens of thousands of new flats are built now, especially in Districts III., VIII., IX., XI., XIII. and XIV. They are to be finished next year but many of the flats have been sold already. In the outer districts, on the other hand, new projects are a rarity.
Most of the new buildings will be built in the districts listed above, so customers have the opportunity of picking there. The ground space of flats is smaller in VIII. and IX. Districts, while the biggest is in District III., with 73 square metres. The green areas nearby attract families with children, especially in the suburban areas.
73 square metres usually mean 3 rooms with a terrace or garden. In the database, the 73 square metre new flats’ price is around 42 million HUF, the most expensive flat in the category cost 75 million HUF, but it came with a terrace and garden.
Most of the new flats are 60 square metres of ground space and can be found in Districts XI., XIII. and XIV. There is about 9 thousand of them. In most cases, they have three rooms, but sometimes one or two of these are only 6-12 square metres. Almost all of these flats have a terrace of 10-12 square metres, only 35 of the 9 thousand flats registered in the district have neither a terrace nor a garden.
The three rooms are suitable for a family of 4 or 5, but they are also fit for young people who want to move in with friends and work or study in this part of the city.
Most of the flats of this size can be bought for 30-40 million HUF, there were some in the database which cost only 28 million HUF, but they did not have a terrace and only had 2 rooms. The highest price in this category was below 70 million HUF, but for this price, a terrace, garden, garage and more storages are provided with the house.
The average flat size in the VIII. and IX. Districts are between 50-55 square metres, these flats usually have either two rooms or two rooms and a third, small room.
These usually have a smaller terrace, too, but for a higher price, flats can be found with terraces of 80 square metres.
These flats can be suitable for families who insist on staying in the city centre, or couples, or even university students wishing to live closer to the busier parts of the city.
These flats are usually sold for 27-28 million HUF. Some of them were for sale in the summer of 2017 for 23-25 million HUF, but these are fit for one person or a couple since there is only one, big room in them. The most expensive of these flats cost 82 million HUF, with a terrace of the same ground space as the flat. For this price, the owner can typically move to the 8th-9th floor.
It is clearly visible that the cheapest flats of 50 or 60 square metres can cost even less than 30 million HUF in the best case. They usually provide the least extras (such as terraces and more rooms), but it is also noticeable that location and the distance from the centre is often a more important factor in pricing the flats. The flats of 73 square metres in the III. District are hardly sold under 40 million HUF, so besides a big ground space, garden and green area also needs to be paid for.