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The cost of living outside Budapest

The cost of living outside Budapest

We may know many things about the housing market of Budapest, but what about living outside the capital? Among the bigger cities in Hungary, Miskolc and Nyíregyháza have the cheapest housing. Győr stands on the other end of the chart, because prices are the highest there. About 2,600 transactions are expected in each city this year. Customers are mostly local people. CSOK does not have much use, as developers prefer customers paying in cash, according to Forbes.hu.

The second largest city in Hungary, Debrecen witnessed 3,640 transactions last year. It is one of the most expensive cities, as family houses are sold for 708 euros per square meter. The highest demand is for brick and prefabricated houses under 50,000 euros, while the newly built houses can be sold for even 65,000-80,000 euros.

1950 transactions took place in Győr last year, which can be increased by 3.5 percent this year.

Győr is definitely the most expensive city outside Budapest: brick houses cost 917 euros per square meter, while family houses cost 662.

This city also shows one of the highest demands for newly constructed houses.

Kecskemét has one of the most favorable migration rates in the country — there are more people moving in than moving out. Last year, the number of housing transactions were 1,900. The average prices are similar to the prices in Győr. Customers mostly seek family houses under 65,000 euros. Newly built houses are also popular and they are mostly sold personally by the investors.

The third largest Hungarian city, Szeged had 3,520 transactions last year, but an increasing tendency can be expected similarly to Debrecen. However, prices per square meter are much lower than in the Northeast. Brick houses are usually sold for 724 euros per square meter. The demand for family houses is relatively low, so they are often sold for about 480 euros per square meter.

Miskolc also presents an increasing market of housing business: 2,590 transactions were registered last year, which can go up to 2,700 this year. Miskolc has the lowest prices among the cities with a population above 100,000. Brick houses are usually sold for 466 euros per square meter, while prefabricated houses cost 420 euros per square meter.

Experiences show that the local population is sensitive for prices. That is why there is low demand for family houses or newly built ones.

2,300 transactions were done in Nyíregyháza last year, but it might grow by 7 percent this year. Neither migration rates nor prices are favorable there. Brick houses cost 675 euros per square meter, making Nyíregyháza the second cheapest city after Miskolc. Naturally, smaller and less new houses are more demanded.

The fifth biggest city of Hungary, Pécs exceeded 3,000 transactions last year. This can be further increased this year by 5 percent. The prices are like in Szeged: brick houses are usually sold for 724 euros per square meter, prefabricated houses cost 592 euros per square meter. The demand for family houses is relatively low, so they are often sold for about 480 euros per square meter.

The smallest city on the list, Székesfehérvár registered 1,500 transactions last year and it is likely to be the same number this year. Brick and prefabricated houses are sold for 805 euros per square meter, while family houses cost 724. The highest demand is for smaller houses with 1.5-2 rooms. The demand for newly constructed houses is negligible.

CSOK was meant to be a decisive factor on housing market, but investors usually sell houses themselves in every city except Győr.

Customers with CSOK usually suffer disadvantages, because most of the developers prefer to be paid in cash.

Source: Forbes.hu

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