Mysterious Hungarian street names, where estates cost a fortune

You wouldn’t even think how much the address of an estate tells about its value. According to portfolio.hu, the importance of the location is mentioned quite frequently, but there’s also an interesting connection between the type of the public place and the prices of estates. Because the name of certain public places signify a surplus value.

The type of the public place

It was first noticed in the USA that street names referring to the closeness of water – like Ocean or Lake-shore – actually portray the margin. Similarly, due to the closeness of water, estates at the quay of the Danube cost 77% more than properties in other streets.

The type of public place may also indicate the characteristics of the district or residential area, this is why the American ways and places suggesting elite districts cost much more than cliché streets. Just like in Hungary, where houses and apartments on avenues or promenades are 46% and 14% more expensive than in “normal” streets.

The name of the public place

However, there are several connections that can’t be explained by this logic of naming. It is strange how streets named Kond and Töhötöm are so rare compared to streets named after the other members of the seven chieftains (they were the leaders of the seven tribes at the time of the Hungarian conquest). Comparing the prices of streets named after the other five chieftains, it’s probably no surprise that the monarch is also in the lead on the estate market: the streets of Chieftain Álmos cost 37% more than the others’. The streets of Huba and Tas are the cheapest. Did they play a less important role in history?