The glorious life of Budapest’s millionaires – Luxury for millions

Statistics and experts revealed that there is a constantly growing need for luxurious flats in the Hungarian capital. The number of flats beyond 50 million HUF (150,000 EUR) is 2,370; between 50–100 million HUF, it is 2,435; between 100–200 million HUF, the number is 451; between 200–400 million HUF, it is 73; while for over 400 million HUF (1,200,000 EUR), it is only 10.

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Pénzcentrum reports that the average flat in the Hungarian capital is usually 74,3 m2, and 1 square metre costs approximately 854,000 HUF (2,500 EUR), but the real-estate market has many surprises for those who would like to buy or rent a flat. Experts believe that it is recommended to search for an appropriate estate in the whole capital because the prices and fees can be much different from each other.

When it comes to the two sides of the capital – Buda and Pest –, the Danube plays the role of a border in the flat prices and fees. On the Pest side, people can spare nearly 13 million HUF each year (39,000 EUR).

From recent statistics, it also turned out that the districts of Buda are not in the top five when it comes to prices; instead, it is District V in the capital’s centre where the average price is more by 660 EUR. The most expensive districts in Budapest are I., II., VI., and VII. The other districts – XI., VIII., III., IX – are also expensive with an average price of 830–874 thousand HUF (2,480–2,600 EUR). In the other districts which were not yet mentioned, the prices of flats start from 1,240 EUR.

In District XXIII., a newly built flat costs 34 million HUF (100,000 EUR).

It also turned out that there is no connection between the actual price and the square metres. While smaller flats are generally cheaper, over 81nsquare meters, the prices start to increase rapidly. The most expensive category is flats over 100 square metres, with an average price of 950,000 HUF/square metres (2,800 EUR).