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Aug 23, 2018

Hungary's property market is booming

Districts 5, 6, 1, 2 and 12 are the most affluent areas in Budapest, where properties regularly sell for over 1 million HUF per square meter

Property prices are continuing to rise in Hungary, especially in the capital Budapest.

According to Világgazdaság, real estate prices have risen substantially over the past twelve months in Budapest, where the biggest increase was reported in Hűvösvölgy on the Buda side.

Official figures show that the average price per square meter in Budapest exceeded 600,000 HUF (1,857 EUR) in mid-August, up 20 percent on the same month in 2017.

The report conducted by property portal ingatlan.com shows that property prices in Hűvösvölgy alone have seen an unprecedented 66 percent rise, bringing the per sqm price to over 1.1 million HUF.

Prices have also risen on pre-fab homes in the outskirts of the city, with the highest, 43 percent growth recorded in Pesterzsébet. Here, the per sqm price increased to 405,000 HUF during the past twelve months.

We recently revealed how districts 5, 6, 1, 2 and 12 are the most affluent areas in Budapest, where properties regularly sell for over 1 million HUF per square meter.