Fishermans Bastion
Photo: www.facebook.com/spiceofeurope/

Holiday home at Lake Balaton, family house in the suburbs of Budapest or two-room flat in the 5th district – for EUR 143-172 thousand (~HUF 50-60 million) we can already choose between properties in good condition. Let us see which are the current opportunities.

Compared to previous years, the number of advertisements for residential properties that worth EUR 143-172 thousand (~HUF 50-60 million) has increased significantly. Accordingly, this year 200 more ads can be discovered in this price category.

According to Dávid Valkó, senior analyst at OTP Ingatlanpont –

“The increase in the number of ads for properties in the price category of EUR 143-172 thousand (~HUF 50-60 million) shows that prices have continued to rise over the past two years.”

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As the Hungarian news portal Portfolio reports, price indices also support the fact that while 7-8 years ago real luxury flats and family houses could be bought in this price category, today at least this amount is needed for high-quality flats; even though, at the end of last year, prices started to fall slightly.

According to the OTP Residential Property Value Map, regarding the average price of flats in Budapest a nearly 100 m2 flat can be purchased in the capital for EUR 172 thousand (~HUF 60 million); however, it is important to mention that there is a big difference between the city centre and the suburbs. On average, this amount fits a two-room flat in the 5th district, while in the 23th distict – that has the lowest average price in Budapest – it is sufficient to purchase a newly built property.

In the countryside, we can choose from a much wider offer.

Thanks to industrial developments, Debrecen took over the title of the most expensive county seat in 2019, ahead of Győr, which had taken the first place for a long time. In the popular university city, the average price of residential property is EUR 1,172 (~HUF 409,000) per square meter, which is still lower than in the suburbs of Budapest. For EUR 172,000 (~HUF 60 million), you can find a home in good condition with a large floor area, even in the city center of Debrecen, such as a five-room family house located in the university city. 

Recent investments have also had a beneficial effect on real estate prices in Kecskemét, where – for this amount – we can find a four-and-a-half-room, high-quality, second-floor, two-storey apartment with a balcony and a covered car park in the city center.

Those who are interested in properties at the Hungarian Sea, you can find suitable from EUR 143 thousand (~HUF 50 million); the vast majority of these cottages are used in popular holiday settings. 

In the case of newly built projects, we can find apartment for EUR 2,000-2,300 (~HUF 700-800 thousand) per square meter. However, we do not have to travel that far for favorable price range. Close to Lake Velence, only 40 minutes by car from Budapest, Kápolnásnyék offers a high-quality, two-storey semi-detached house with a terrace for this amount.

Tihany Peninsula
Read alsoSignificant increase in property rentals at Lake Balaton

Source: portfolio.hu

2 comments
  1. I must ask this question? How many Hungarian citizens can afford to purchase a 150 Thousand Euro property? NOT MANY. I would venture to guess.

    I think their should be an article about what can be purchased for 25 Thousand Euros in different markets through out Hungary.

    I think Portfolio.hu is trying to lure in investors and unfortunately most Hungarians will never afford 150 thousand Euro property anywhere in Hungary.

  2. This is happening all over the world, foreign citizens want to buy a property and if it becomes a trend, prices skyrocket!!!! This is ridiculous! Not everyone has the financial power to buy a property above 100,000€, and local governments should put a stop to this! Even the rents go insanely high, and everyone that has a minimum income gets a rope around their neck to pay the bills… no one seems to care as long as there is someone filling the bank account.

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