Slovak citizens flooding villages in NE-Hungary for cheap real estate?

Villages, settlements, and towns  in the northern side of Borsod County are getting really popular among Slovak citizens. Low real estate prices attract more and more people to the region. The phenomenon is not new, though.

Back in 2011, there was a trend among Slovak citizens to buy real estate in Hungary. Prices of houses in Bratislava were really high, so many Slovaks made the decision to buy real estate in Rajka or Mosonmagyaróvár. Back then, napi.hu reported that

 in Kassa, for example, family homes cost between 35,000 and 75,000 euros, while in Borsod-Abaúj-Zemplén County, Hungary, a house cost as little as 10,000 euros.

Renovating homes cost considerably less in Hungary, and with good infrastructure, commuting was easier as well. Recently, even more foreign citizens from the aforementioned country have come to Hungary to buy properties. The Borsod area is not expensive at all, that is why Slovaks choose to resettle there. In their home country, properties have become even more expensive, especially family houses.

In Kassa, “between the first and second quarters of 2020, prices per square metre increased by an average of 24 per cent, while for the whole of last year, there was a 28 per cent increase compared to the 2019 price level,” wrote G7.hu.

In Kassa, the average cost per square metre was 1,325 euros in 2020, while in Northern Hungary, one square metre cost only 372.94 euros. Real estate in villages of the Borsod area cost even less. Here, the average price was 197.77 euros.

Due to this, our neighbours come to buy houses even as far as about 60-70 kilometres away from Kassa, Slovakia. Some people, however, buy houses in Hungary as weekend houses or vacation accommodation, not as family homes to live in.

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Source: G7.hu, napi.hu