For those who would like to move to Hungary or are currently living here and maybe contemplating on buying a new home, or for those who are just simply curious, we will show how large of a house or apartment you could buy for HUF 50 million or approximately € 140,000.
At first, that amount sounds a lot, but depending on where you might want to live, well, that might not be worth that much. In one of our previous articles, we wrote about the most expensive and cheapest streets in Budapest, but now we will take a look at which counties and cities you might want to buy a new home in.
With the help of Pénzcentrum’s real estate market overview, which utilised data from the OTP Residential Real Estate Value Map (OTP Lakóingatlan Értéktérkép) and the Budapest New Home Value Map (Budapesti Újlakás Értéktérkép), we can now show you your money’s worth in Hungary.
According to the overview, the Hungarian real estate market has a considerable gap or rather a chasm in the middle.
In some places, you could only buy a small, used apartment or a shed-sized new one, while in other parts of the country, you could buy a mansion’s worth of apartment. If you guessed that Budapest was the most expensive, then you were right. As the data in the chart will show you,
you will not be able to buy a used apartment over 70 m2 in 8 of the 23 districts in Budapest. Not to mention that they would likely need to be renovated.
Of course, the most expensive areas of the city are on the Buda side and in the inner districts of Pest. If you would like to purchase something bigger and more liveable, you might want to consider the capital’s outer districts.
Apartment sizes you could get for €140,000 in Budapest by district
While € 140,000 gets you a 53 m2 used apartment in district V, located in the city centre just next to the Danube and in the same district as the Hungarian Parliament, you could afford a 136 m2 used apartment in district XXIII. At the south-eastern perimeter of Budapest.
The situation of new apartments is even worse. If you would like to move to the central districts of the Hungarian capital, € 140,000 would get you less than 40 m2 worth of a new apartment.
Average apartment sizes you could get for €140,000 in Hungary
Pénzcentrum’s overview says that the average size of used apartment you could get is 78 m2, but if you would like to get a home in another county’s seat, then your situation is relatively better.
The second most expensive county seat is Debrecen, but € 140,000 would get you a used apartment the size of 119 m2.
According to 24, if you would like to get a little more out of your money, then Nógrád county and its county seat Salgótarján is the place for you. There you could buy an apartment of 402 m2. Five times more than the average size of used apartment you could get in Budapest.
But if you really want the most bang for your buck, then there is a 15,000 m2 farm for sale with arable land for only HUF 3.6 million, which is around € 10,000.
On the other end of the coin, the most expensive property you could buy would be the 27 m2 two-room renovated apartment on Sas street, László Balogh, the senior economic expert at ingatlan.com told Pénzcentrum.
Source: Pénzcentrum.hu, 24.hu