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Skyrocketing prices: brutal numbers from the Budapest property market
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The average price per square metre of the newly built properties in Budapest has reached 1.43 million HUF (EUR 3,423). That is a 32 percent rise compared to last year and a 6 percent increase compared to the previous quarter. Meanwhile, Duna House informed us about certain districts in Budapest where the average price per m2 of the newly built apartments was much higher, more than 7,183 EUR. Below you can read the details.
Easier to buy property in Budapest than in Vienna or Bratislava
Cordia, a real estate developer, analysed the big Budapest real estate projects lately. They found that the average price per square metre was HUF 1.66m (EUR 3,974) in Buda and HUF 1.3m (EUR 3,122) in Pest. The number of new apartments has been still growing in the capital. At the end of September, investors could pick from 5,200 properties. However, that number is lower than the 2017-2021 average, which was 7,000.
According to index.hu, 1,060 new apartments were sold in Budapest between July and September. That equals the previous quarter’s 1,100. However, index.hu found that it was easier to buy a property in Budapest than in Austria, Czechia and Slovakia. Wages are higher there, but real estate is much more expensive than in the Hungarian capital.
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