Luxury homes and apartments constitute only a minimal percentage of the whole real estate market in Hungary, yet, business is booming, and there are more foreign investors than ever. The starting price of luxury apartments in Budapest is EUR 4880/m2, but it can go as high as EUR 9600/m2, reports Életforma.hu.
Let’s cut to the chase: how much?
While a few decades ago, the majority of the luxury homes could be purchased for EUR 160,000, now it is hard to find anything below EUR 320,000.
One of the most expensive homes for sale is a luxurious villa with 12 bedrooms on Andrássy Avenue that can be yours for EUR 22 billion.
In case a villa is too much for you, there are luxury apartments situated in Budapest’s centre for EUR 1.5 million. For roughly the same price, you can purchase a penthouse apartment with full panorama to the river Danube. The Buda side is slightly more expensive; there, you are less likely to find a more exclusive luxury home for less than EUR 3.2 million. These properties can be found on Duna House Prime which is the segment of the Duna House franchising system that is specialised in the exclusive real estate. Currently, DH Prime offers more than 250 unique and premium homes in Hungary.
As they say in real estate: location, location, location.
The majority of the luxury apartments are located in the capital, but there is a growing supply and demand in the Balaton region as well. In Budapest, the starting price of luxury apartments is EUR 4880/m2, but it can go as high as EUR 9600/m2. Besides the location, important factors influencing the price are facilities, additional services, extremely high-quality materials, special design and uniqueness.
Annamária Uracs, the manager at Duna House Prime, told Életforma.hu:
“The most important factors in the Hungarian exclusive real estate market are the location, uniqueness and the complexity of services. . . the clientele in Hungary is more aware of more elegant needs and expectations . . . because in many cases, they gained experience in real estate abroad.”