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Jan 30, 2018

The price of a new home in Budapest rose by 7.8 percent in the first three quarters of 2017 while resale homes increased by 7.5 percent

The most expensive districts to purchase a home are 1, 2, 5, 6 and 12, and prices will continue to rise over the coming years to catch up with Hungary's European neighbors

The average price of a new home in Budapest rose by 7.8 percent in the first three quarters of 2017 while resale homes increased by 7.5 percent, official figures show.

According to data published by the Central Statistical Office (KSH), new home prices have risen for almost five years in a row and resale homes for almost four years.

Figures show that in the first three quarters of last year 95,300 homes were sold, 4 percent more than in the same period a year earlier.

In Budapest, resale homes sold for an average of 23.3 million HUF (75,000 EUR) on average, 2.1 million HUF more than in 2016.

The average per square meter price of a resale home in Budapest rose to 410,000 HUF from 361,000 HUF. New home prices rose by 11 percent to 26.2 million HUF on average.

As we revealed last year, the most expensive districts to purchase a home are 1, 2, 5, 6 and 12, and prices will continue to rise over the coming years to catch up with its European neighbors.