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The most luxurious and the cheapest districts of Budapest to live

The most luxurious and the cheapest districts of Budapest to live

According to portfolio.hu, there is an ongoing debate about whether it is Pest or Buda where it is more agreeable to live concerning financial matters. The real estate prices are surely higher in Buda, but at the same time the most expensive district in the capital is still in Pest? This article intends to show the current real estate prices in the capital and, out of curiosity, the most expensive streets, too.

The recent study of KSH about the 1st half of 2017 gives us a clear picture about the prices of homes in each capital district. It demonstrates that it is still the 5th district that is the most expensive, where the prices are approximately 3 times as much as in the cheapest 23rd district.

The top most expensive districts after the 5th are the 2nd, the 1st and the 12th, then comes the 6th and the 11th.

The cheapest district is the 23rd, but the 21st, the 20th and the 10th only drop behind a little bit.

/commons.wikimedia.org by Adam78/

 

/KSH, Portfolio survey about the average home prices and the sold flats in Budapest/ The column on the right indicates the number of flats sold, while the one on the left indicates the price of square metres in HUF thousand

However, without doubt, the most popular districts are the 13rd, the 14th and the 11th where around 3,000 flats were sold in the 1st half of 2017. If we assume that this number is going to increase in the 2nd half as well, then 10% of the housing stock may change its proprietor.

It is important to point out that the average prices in each district are calculated based on the purchased detached houses, apartments and blocks of flats. The blocks of flats are usually less expensive than the apartments, thus, the districts where less of them are sold give those for higher prices.

In fact, it is still the districts and the location of the homes that influence the prices.

Out of curiosity, the survey highlighted the most expensive streets in the country as well. Based on this, the top prize goes to the 5th district where the Vigadó Square is situated and where it is not rare to ask for more than 6,000 euros (1,8 million forint) per square meters. Among the top 20 most expensive streets, 12 are from Pest that are all in the 5th district and there is only 1 from the 13th district. From Buda, there are streets from the 1st, the 2nd and the 11th districts. The only surprising thing is that the 12th district is not among the top ones, but a possible explanation for this might be that there are less newly-built homes that are recently sold there. Furthermore, because of the bigger surface area of the homes, the prices are also not so outstanding.

KSH, Portfolio’s survey about the most expensive streets in Hungary

Among the most expensive streets, we can find one from Balatonfüred as well, that ranks as the 17th most expensive on the list with its demanded 2,620 euros (786,000 forint) per square meters.

A remarkable thing  to notice is that these prices are far below the prices advertised by the proprietors, because, in reality, home buyers are unwilling to spend such ludicrously high prices indicated in many cases.

The survey sums up that it is still Buda that is considered to be more expensive than Pest, but in some parts of it, people can get very favourable prices, too. Those interested in buying a newly constructed home might be interested in trying their luck in the 3rd district where they can find newly-built homes for more acceptable prices.

Photos: pixabay.com; commons.wikimedia.org; KSH & Portfolio

Source: portfolio.hu

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