Where do Hungarians buy apartments for the summer season?

Usually, in the spring, the requests for summer cabins and apartments increase, and many people start to organise where to spend their holidays. Besides Central-Europe’s biggest lake, Lake Balaton, Lake Velence and Lake Tisza also become more popular every day. The needs and requirements always change, but most people find the appropriate estate. However, it is important to be careful.

Portfólió reported that the changes in the customers’ demands and needs also made the trends of summer apartments different in the past years. For decades, the most popular estates were the usual smaller houses with a garden, but today, many Hungarians choose the comfort of an apartment house. Investors reacted to this rapid change immediately.

On the south coast of Lake Balaton, newly built apartment houses follow each other like mushrooms after a heavy rain. Comfort is not cheap as one square metre costs approximately 1 million HUF (3000 EUR) and 80% of the customers buy apartments to invest in them. The most popular towns are Siófok, Zamárdi, and Balatonlelle.

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According to several experts, the increased amount of new apartment houses made the prices of regular flats and houses more expensive. For example, in Siófok’s centre, people can buy flats and houses over 400 thousand HUF (1,200 EUR), but in the suburbs of the populated cities, the prices of building sites reach 5 million HUF (15,000 EUR).

The situation is different with Lake Velence due to its location next to one of the most important motorways in the country, between the capital and West-Hungary. In Gárdony, the prices of estates increased by 27% last year, which means that the average square-metre price is approximately 290 thousand HUF (880 EUR). In the suburbs of Budapest, this price is the same, so it might be beneficial to buy an estate on the shore.

Lake Tisza also showed some changes recently. In Tiszafüred, one square-metre costs 104 thousand HUF (314 EUR). The region of Lake Tisza has gone through many developments and investments in the past years, and the infrastructure of the town is getting better and better. Also, this part of the country could be the perfect replica of Lake Balaton’s.

Source: www.portfolio.hu