These are the most popular Hungarian cities on the real estate market

debrecen.hu

Following the Hungarian capital, Debrecen and its surroundings were the second most popular regions for property buyers last year. Here is the entire list of the most popular Hungarian cities, including the number of sales, which demonstrates that the property market closed a record year in Hungary last year.

In 2021, a total of 154 thousand property sales were concluded in the country. The most attractive destination in the real estate market was Budapest, followed by the Northern Great Plain region. Here, Hungary’s second most populous settlement,

Debrecen has emerged as a prominent city that is becoming increasingly popular among property buyers.

One of the reasons for this is the BMW plant which is currently under construction and will create thousands of new jobs in the region.

A total of 3400 sales were realized in Debrecen which is the second-highest number in Hungary, after Budapest. In addition to Debrecen, Szeged, Miskolc, Nyíregyháza and Szolnok are also increasingly popular among property buyers. As far as small settlements are concerned, Törökszentmiklós, Hajdúszoboszló and Hajdúböszörmény should be mentioned, with 360-380 sales on a yearly basis – reported by Pénzcentrum.

Back to Debrecen, the city’s popularity among property buyers is no surprise, as the soon-to-open BMW factory will create thousands of new jobs. This is why Debrecen is the most expensive city in the region. The average price per square metre of brick apartments sold last year was EUR 1,422 (~HUF 531,000); panel apartments cost EUR 1,192 (~HUF 445,000) per square metre and detached houses EUR 1,071 (~HUF 400,000) – according to the analysis of Otthon Centrum.

By way of comparison, in the case of apartments in Nyíregyháza, the price per square metre was EUR 950 (~HUF 355,000) for brick-built apartments and EUR 870 (~HUF 325,000) for panels. Szolnok was slightly cheaper, with EUR 875 (~HUF 327,000) and EUR 750 (~HUF 280,000). Only in the case of second-hand houses, a similar price level – EUR 710 (~HUF 265,000) per square metre can be experienced.

In addition, Debrecen is also a leader in the market in terms of new-build housing developments.

Numerically, construction works have started on 1,058 apartments in 45 projects. Here, new flats are offered at a median price of EUR 2,460 (~HUF 918,000) per square metre, much higher than the average price of EUR 1,722 (~HUF 643,000) in the largest Hungarian cities.

As the Hungarian news portal 24.hu reports, property purchases for investment purposes continued to be the dominant trend in both the capital and the countryside. In Budapest, an average of EUR 135,585 (~HUF 50.63 million) was spent on this type of property, while in the countryside an average of EUR 75,220 (~HUF 28.09 million) was spent.

According to Duna House, the real estate market is about to be reshaped. Due to the significant increase in new construction prices, more and more home seekers are expected to choose second-hand or sublet properties. This way, they will support the investor demand on the rental market.