Within the framework of a non-representative survey, the Hungarian news portal Portfolio collected the most preferred districts of Budapest. As a result, a district ranking has been carried out, having examined its coincidence with property prices. Let us see the results.
According to previous researches, 1st and 5th districts of Budapest are considered to be the most livable parts of the Hungarian capital, based on infrastructural supply and other aspects. However, opinions are divided on this question which has been demonstrated by the recent results as well.
Accordingly, based on the answers of the 3500 participants, the most livable district is considered to be the 12th district, followed by the 11th district and 2nd district in the ranking.
The Buda side is quite overrepresented in terms of results – 55% of the respondents indicated Buda districts as their ideal place to live. (However, it is not excluded that in proportion to the readers of the news portal, more people live in Buda districts.)
On the Pest side of the capital, the most popular part is the 13th district, occupying the fourth place in the overall ranking. Not surprisingly, as this area has become the most innovative part of Budapest thanks to the newly built apartments and offices. Besides this region, the suburban parts of 14th and 16th districts also gained great popularity among the respondents.
At first, it may come as a surprise that despite outstanding property prices, 5th district finished only in 12th place. In contrast, districts in the city centre – 6th and 7th district – received almost the fewest votes, followed by 20th district as the least livable part of the Hungarian capital.
As far as property prices are concerned, certain coincidences can be observed. Accordingly, on the Buda side, both 2nd and 12th districts are ranked in the TOP 5 of the highest real estate prices (2019):
- 5th district – 2,825 EUR/m2 (~ HUF 980,000)
- 1st district – 2,310 EUR/m2 (~ HUF 800,000)
- 2nd district – 2,280 EUR/m2 (~ HUF 790,000)
- 6th district – 2,190 EUR/m2 (~ HUF 760,000)
- 12th district – 2,163 EUR/m2 (~ HUF 750,000)
The largest deviation can be observed in the case of 6th district, which is the fourth most expensive in terms of property prices, meanwhile the penultimate in terms of livability. The similar discrepancy can be found in the case of 7th district. However, the situation is reversed in the 14th and 16th districts, all of which are six places ahead on the list of livability than in terms of prices.
According to Portfolio, this does not mean that apartment prices in the city centre will suddenly collapse and suburban areas will become more expensive. The results only prove that house prices are affected by a relatively large number of factors, including the proportion of purchases for investment purposes. Accordingly, someone might have an apartment in the city centre offered for short-term rental or office purposes, but himself/herself lives in one of the most preferred districts of Buda.
Even though several owners do not live in the city centre, these are the most expensive districts in the capital.
As a result of the economic crisis, the city centre may suffer the most from the economic downturn due to the higher proportion of apartments operated as investments, which will also be reflected in apartment prices. Consequently, the price gap between the inner and outer districts may decrease a bit, but considerable changes in the list of districts in terms of property prices are not expected yet.
Featured image: www.facebook.com/ZoltanGaborPhotography