These are the most expensive towns in Hungary
The most expensive towns were those at Lake Balaton in 2021. In one district of Budapest, the average price per square metre was just over HUF 1 million (EUR 2,536). In contrast, in the most expensive Hungarian town, it was HUF 1.274 million (EUR 3,218) per square metre. Despite the closeness of the tram and the big-city lifestyle, the price per square metre has been driven up by the atmosphere of a waterfront on Lake Balaton or a small village of a few hundred people.
As we wrote earlier, energy efficiency has become a key factor when buying properties; some areas became more, some less favourable. For example, Budapest’s largest district, Rákosmente used to be very popular due to its peace and quietness. However, with the increase in the energy efficiency of real estate in 2022, the area lost more and more of its attractiveness, just like other districts and cities.
Top cities near Lake Balaton
In 2021, the most expensive village in Hungary was Ábrahámhegy. The average price per square metre in the village on the northern shore of Lake Balaton was HUF 1.274 million (EUR 3,208), according to Portfolio. Despite the fact that the village has a population of around 500 and only four transactions took place in 2021, it had the highest price per square metre.
The third place was also taken by a town near Lake Balaton, Tihany. Here, not only detached houses were sold but also apartments in condominiums. The average price per square metre was around HUF 1 million (EUR 2,536) for detached houses and more than HUF 1.6 million (EUR 4,041) for condominiums. KSH calculated the overall average price per square metre, which came to HUF 1.25 million (EUR 3,157).
At the same time, Szántód, near Lake Balaton, tops the list with more than ten sales, where buyers had to expect a price of HUF 953,000 (EUR 2 407) per square metre.
The charm of the agglomeration
The second place was achieved by Remeteszőlős, a small settlement in the Budapest agglomeration, according to the recent publication Property Data Repository, Hungarian Housing Prices, 2001-2021, published by the Hungarian Central Statistical Office (KSH). The number of properties sold here was also four, with an average price per square metre of HUF 1.273 million (EUR 3,215).
Near-border cities for commuters
The fourth of the most expensive towns is Zsira in the west of the country. In contrast to the other municipalities, the high price per square metre is due to the town’s proximity to the Austrian border, rather than to its being close to Lake Balaton or Budapest.
Both lists are therefore topped by a town near Lake Balaton. So these small villages with prices per square metre above the average of even the most expensive parts of Budapest have once again shown that there is plenty of value and potential in the real estate market outside the centre of Budapest.
Read alsoNegotiation potential grows for buyers in the Hungarian real estate market
Source: portfolio.hu, DNH