Skyrocketing property prices in Budapest

Price increase on the Hungarian real estate market is still significant, while there is an unlimited supply of properties offered in Budapest. According to experts, there is no unsaleable ’home’ in the capital, though vendors tend to offer them at unrealistic prices.

Property investment in Budapest is a new trend which is getting more and more widespread nowadays. This phenomenon also contributes to the price increase as investors aim to profit as much as possible, providing financial security to their descendants.

As far as price per square meter is concerned, Budapest was already top-ranked in 2018. According to Hungarian news portal 24.hu, apartments in the city centre were offered at an average square meter price of 900 thousand HUF. Within this region, V. district was the most expensive. On the Buda side, I. district was the ’record-holder’ with its square meter prices above 700 thousand HUF, followed by III., XI., XII., VI., XIII. districts where this exorbitant amount decreased to 600-650 thousand HUF / m².

According to experts, despite the significant 15-20% price increase in the last four years, property purchase can still be considered as a lucrative business.

Source: 24.hu