Balaton real estate boom: over 3,000 Euros/m2

Due to the high demand, real estate prices increased a lot in the Balaton region recently. New apartments on the shore go for 3,200 Euros per m2, which is shocking. However, it does not seem to reach the buyers’ psychological limit quite yet.

24.hu reports that the real estate market in Balaton started to boom again at the end of February after a dreary period in January. Even though prices are continuously getting higher and higher, the interest and high demand for new apartments around lake Balaton does not seem to decrease according to Gábor Krausz from Balla Ingatlan [Balla Real Estate].

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The price of new apartments increased by 20% since last year due to the equal increase in the contractors’ expenses. Prices are also getting higher by the growing demand and the decreasing supply.

In the case of a new apartment on the lakeshore with a panorama, prices can get as high as 3,200 Euros, sometimes even more.

Even though prices are getting astoundingly high, they have not reached the psychological limit.

In parallel to the new apartments’ increasing prices, older (10-15-year-old), average quality apartments are getting more expensive as well. These apartments are being sold extremely quickly, sometimes for more than 64,000 Euros. In highly popular areas like Siófok or Sóstó, older apartments are advertised for 95,000-127,000 Euros.