In addition to viticulture and winemaking, Hungary’s wine regions are also popular among those who would like to disconnect themselves and get away from the stressful city atmosphere. Accordingly, the Tokaj, Kunság and Pécs wine regions are becoming more and more popular residential destinations. We reveal how much a property costs in the most famous wine regions of Hungary.
In one of the most well-known wine regions of Hungary, real estate prices show significant differences. The cheapest houses in the wonderful Tokaj wine region – which are usually awaiting renovation – are offered for EUR 13,800-19,300. In the more popular settlements, similar residential properties are available for EUR 22,100-41,400, depending on the condition. As the Hungarian news portal 24.hu reports,
the most popular settlements of the wine region are Erdőbénye, Mád and Bodrogkeresztúr, where tourism and investment purchases have recently started to boom.
The highest price category in the Tokaj wine region is represented by vineyards and wineries, usually waiting for the right buyer. Due to its advantageous characteristics, the Tokaj wine region is usually targeted by those investors who are interested in viticulture and winemaking.
In September, the real estate market of Hungary’s widest wine region realised the third strongest month ever.
As far as tourism is concerned, the settlements with baths are still the most popular in the region. High demand can be observed in the case of small settlements along with more extensive industrial and economic facilities, such as Kecskemét. Here, buyers are mainly looking for properties that need minor renovation. However, without being renovated, a property in the smaller settlements can be found for EUR 11,050 – 13,800. At the moment, there is still some price increase in the wine region, mainly due to the rising cost of building materials. Furthermore, the real estate market is still booming, and due to the declining supply, the customer decision-making process has accelerated.
In addition to the sale and purchase of the real estate, the number of property rentals is also significant in the Kunság wine region. In the case of tourist destinations, such as Tiszakécske, Cserkeszőlő or Kiskunmajsa, short-term rental and accommodation service has gained popularity. Meanwhile, properties for higher education students can also be found on the market, such as in Kecskemét.
In the Mediterranean wine region of Pécs, a slight increase can be observed in the price level of properties since the beginning of this year. However, the real estate market is still vibrant in the region. In the larger settlements, the most popular properties (to be renovated) are offered for less than EUR 55,250 and can be purchased within the framework of the Family Housing Support Program (CSOK). Additionally, several properties can be found in the higher price category as well. These are mostly freshly renovated properties in good condition or newly constructed real estates.
It can be mainly observed in Pécs that many buyers exchange their surrounding urban flats for a rural family house.
In addition, investors are primarily looking for building plots or properties in poor condition where the new property can be built on the plot after the house is demolished. This trend can even increase further as a result of the Green Home Program.
According to some experts, the fourth wave will not cause any decline in Hungary’s real estate market, thanks in part to the government’s family-friendly measures. As the Hungarian news portal Üzlet és Utazás reports, based on the first three waves, those who can afford it are still keen on investing in real estate, especially in the countryside, where they can get away from the stressful city atmosphere. This is one of the reasons why property investment in Hungary’s wine regions is becoming more and more popular nowadays.
Source: 24.hu; uzletesutazas.hu