Hungary's holiday home market is booming

The cost of a holiday home in Hungary has shot up by more than 70 percent since 2013 in some areas of the country.

Holiday homes in Hungary are shooting up in price, according to the latest figures. 

Homes in Lake Balaton remain one of the most expensive areas for holiday getaways, with an overall average per square meter price of 270,000 HUF in 2017. 

According to a study compiled by Takarék Index, the most expensive towns for property in Lake Balaton are Siófok and Balatonfüred. Average prices were between 344,000 and 368,000 HUF per sqm in 2017. 

Prices for homes in leisure sites up and down the country are also increasing in price. 

Leisure sites around Budapest average 420,000 HUF per square meter, 70 percent higher than in 2013. 

Other expensive areas include Sopron and Kőszeghegyalja, at 270,000 HUF, 63 percent higher than in 2011. The study states that the high prices are due to their close proximity to Austria. 

Lake Velence also proves an expensive area, with average prices above 270,000 HUF per sqm. 

The study found that the cheapest area is around Lake Tisza, in eastern Hungary, with prices around 50,000 HUF per sqm.