Immense positive turnaround in Hungarian property market

We have good news for those planning on investing in real estate in the Hungarian capital: the price increase of newly built properties has stopped. The Hungarian real estate agency Otthon Centrum recorded a mere 1.3 percent increase in the last quarter, after last year’s extreme price rises. The analysis also showed that the price gap concerning average property prices between districts has never been so wide.

Average property prices increased by only 1.3 percent

The average price per square metre of apartments offered in new construction projects is currently HUF 1.592 million (EUR 4,268). That represents an increase of only 1.3 percent compared to the previous quarterly survey, said the head of analysis of Otthon Centrum, summarising the new housing market in the capital, as reported by Pénzcentrum.

Head of analysis Gábor Soóki-Tóth said that on a year-on-year basis, prices per square metre are 12.2 percent higher today than in the same period last year. This is mainly due to last year’s extreme price increases. In Budapest, the average price per square metre varies between HUF 932,000 (EUR 2,498) and HUF 3,081,000 (EUR 8,259).

“There has never been such a price difference between districts before,”