These are the most expensive streets of Budapest

The most expensive properties of the capital city today are in the V. District, contrary to the situation five or ten years ago, when the most expensive properties were located in the districts of Buda – reports mfor.hu.

The V. district has never counted as “cheap” in the real estate market of the capital, however, the most expensive properties could be found in the districts of Buda, in the middle of the 2000s. But it changed in the last couple of years – says the newest survey of ingatlan.com, which ranks the most expensive properties of Budapest in order based on ten thousands of estate advertisements and official apartment sales data.

According to the survey, the most properties on the list of the most expensive estates have been from the ll. Districts since 2006, although, not the ll. but the V. District led the list last year and in 2014, as well. Latter gave half of the ten most expensive properties in both years. The I., ll. and Xll. District participated on the last year and the 2014 top-ten list with only one estate from each.  The price had to be at least HUF 700,000 per square metre to get onto to list in 2015.

“If we look at the list from 2006, it is easy to see the streets that frequently get onto the list of the most expensive locations. Dorottya Street and Vörösmarty Square are the most expensive ones in the V. District. Orom Street in the I. District and Józsefhegyi Street in the II. District in Buda also got onto the top-list in many years. Besides them the parts of the IX. District and XIII. Districts, which are located on the bank of Danube, the estates of the Lechner Ödön Avenue and Marina Promenade are among the most expensive ones” – said László Balogh, economic expert of ingatlan.com.

According to the data of ingatlan.com, the apartments of Vörösmarty Square, Apáczai Csere János Street, Kossuth Lajos Street and Galamb streets in the V. District were advertised with the highest price in 2016, HUF 1 million per square metre.

The popularity of the V. District was explained with many reasons by László Balogh. The properties near the downtown were appreciated in the last years. Besides, the district became the area of apartment-buying as investment and apartment hotels, which means a focus area for the foreign investors. The demand was outstanding, which put the prices even higher. The popularity of the V. District will keep on, because there will always be need for the properties in the central area. Moreover, demand can even increase, because these estates still count as a fast-refundable investment which can result in the prices going up. According to the expert of ingatlan.com, the degree of the price-increase will slow down in the following years.

Copy editor : bm

Source: mfor.hu