Jaw-dropping: The average panel flat in Budapest costs over EUR 100,000

Dreaming of a panel flat in Budapest? Be ready to pay top dollar as prices soar to unprecedented levels this year.

The price of a flat in Budapest on the rise

Telex reports that the real estate market in Budapest is on a roll, with the average price of a panel flat climbing 13% in the past year to a record-breaking HUF 42 million (EUR 102,486), according to Duna House. This marks a stark increase from last summer when prices were slightly lower by HUF 1 million (EUR 2,440).

Panel apartments, often considered more affordable than traditional brick-built homes, have also seen a surge in price per square meter, averaging HUF 789,000 (EUR 1,925) and occasionally exceeding HUF 1 million (EUR 2,440) in popular housing estates. These large-panel system building apartments range widely, costing anywhere from HUF 24 million (EUR 58,563) to HUF 83.75 million (EUR 204,361), with square meter prices spanning 500,000 (EUR 1,220) to HUF 1.22 million (EUR 2,978).