Significant increase in real estate prices along the Budapest M4 metro line
Significant changes have occurred on the real estate market since metro line M4 was completed three years ago. Areas along the metro line that have experienced the biggest price increase are II. János Pál pápa Square and Kálvin Square in Pest and Móricz Zsigmond Square in Buda, tozsdeforum.hu reports on the findings of Otthon Centrum.
Between 2013 and 2015, property prices began to increase at every metro station. In Pest, the biggest increase occurred at Kálvin Square where prices doubled, while in Buda, property prices have increased by 40pc at Újbuda-központ. Moreover, Rákóczi Square, the vicinity of the Keleti Railway Station, Bikás park, and Kelenföld also experienced significant rises in real estate prices.
In 2015 and 2016, there was a large increase in prices, 15-45%, in the areas around virtually every metro station, with the exception of Kálvin Square and Újbuda-központ where only a slight, 2-5pc increased could be observed.
According to Gábor Soóki-Tóth, lead analyst at Otthon Centrum, the biggest increase in the past 4 years occurred at II. János Pál pápa Square and Kálvin Square, where property prices more than doubled. However, II. János Pál pápa Square still remains the cheapest of the M4 metro stations.
Otthon Centrum also examined the property prices on the M4 metro line in comparison to the rest of the city. The increase along the metro line in 2015 was noticeably bigger than the city average, especially compared to the areas previously considered less expensive. This was the year when the new metro line had the biggest influence on property prices. Since then, the real estate market has settled, and in 2017, a steady but not spiking increase can be expected both in district prices and in the areas surrounding the metro stations.