Properties selling at surprisingly low prices on this lakeside in Hungary

A growing number of people are buying property in the settlements around Lake Tisza, relatively close to Budapest. The low property prices here are attractive to many buyers, who then use their newly purchased properties mainly as holiday homes or as guest houses.

What used to be considered a disadvantage has increasingly become an advantage for the Tisza Lake: The region has always lacked major investments and road developments, Világgazdaság writes. As a result, property prices here are well below the exceptionally high prices on Lake Balaton and Lake Velence.

Increasingly attractive property prices

As Világgazdaság reports, properties in lakeside settlements are being offered for sale at an average price of less than HUF 30 million (EUR EUR 77,820). The most valuable properties for sale are in Tiszafüred, where they were sold for an average of around HUF 40 million (EUR 103,760) at the end of March.

Tiszafüred is followed by Poroszló, where properties can be bought for slightly more than HUF 30 million. In Abádszalók and Kisköre, the average price is around HUF 24.5 million (EUR 63,550), while in Sarud, it is currently around HUF 25.6 million (EUR 66,404).

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Properties in more remote areas away from the lakeside are even cheaper. For example, properties on offer in Tiszaderzsi are half the price of those in direct lakeside settlements. This is due to the lack of local jobs and tourism.

Potential for development

Although major investments and road developments have not yet reached the region, Lake Tisza is still easily accessible from Budapest. From the Hungarian capital, it takes only an hour and a half to reach Lake Tisza. This means that Lake Tisza is about as close to Budapest as Lake Balaton. In addition, Tiszafüred and Poroszló, for example, can be reached by direct rail connection.

In addition to its proximity to the Hungarian capital, the potential for development in the region may also be attractive to property buyers. According to László Balogh, economic expert at ingatlan.com, one basis for this potential will be the upcoming government developments focusing on Eastern Hungary. Furthermore, the development of cycling infrastructure in the lake region is also in progress.

Biker’s bridge over Lake Tisza. Source: Facebook/Csodás Magyarország

In addition, the upgrading of beaches started last year, and new housing projects have also been launched. Last year, for example, unique floating houses were built in Abádszalók.

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Unique floating village built at Lake Tisza. Source: Laszli Adrienn Studio

It is worth knowing that around the lake, there are mostly quite old holiday cottages. Therefore, in addition to the purchase price, buyers also have to expect significant renovation costs, Világgazdaság notes. However, given that the region keeps improving, and properties at Lake Balaton are far more expensive, it could be still worth it for buyers.

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Source: vg.hu