Real estate prices up in Budapest

Real estate prices continued to go up over the past twelve months in Budapest, where the biggest increase was reported in the residential area of Huvosvolgy on the Buda side, business daily Világgazdaság said on Thursday.

Property prices per square meter exceeded 600,000 forints (EUR 1,857) on average in mid-August, up 20 percent on the same month in 2017,

the paper said, citing a recent survey by the portal Ingatlan.com.

Property prices in leafy Hűvösvölgy have however seen an unprecedented 66 percent rise, bringing the per sqm price on the market to over 1.1 million forints, the paper added.

Demand in Hűvösvölgy’s affluent 2nd district and the adjoining 12th district are pushed up by relatively low supply.

Prices have also gone up at an unprecedented rate in the category of pre-fab homes in the outskirts of the city, with the highest, 43 percent growth recorded in Pesterzsébet. Here, the per sqm price went up to 405,000 forints during the period under survey.

As we wrote a few weeks ago, Odessan mafia may have set foot in Budapest beside London, according to Napi.hu. Anna Angert, daughter of Alexander Angert, head of Odessan mafia has several Hungarian luxury apartments in her possession, read more HERE.

Also we wrote about Debrecen’s new chance, demand could push up real estate prices by up to 40 percent within 3-4 years once German carmaker BMW starts production in its new factory in Debrecen, read more HERE.

Source: MTI/VG