Hungarian property market experiences unexpected boom
Official figures show a record number of properties have been sold outside of Budapest.
Official figures show a record number of properties have been sold outside of Budapest.
Lake Balaton property prices are fetching as high as 3,200 Euros per meter squared
House prices picked up by 20.2 percent year-on-year in the second quarter of 2018
Property throughout Hungary, especially in Budapest, has become more desirable to locals and investors
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
The cost of a holiday home in Hungary has shot up by more than 70 percent since 2013 in some areas of the country.
According to official figures released by the Central Statistical Office (KSH), foreign nationals bought 7,371 homes in Hungary last year, accounting for just under 5 percent of total market turnover
Compared with the previous quarter, the highest increases were recorded in Latvia (+7.5 percent), Hungary and Slovenia (both +4.4 percent)
The number of newly built dwellings increased by 65 percent year-on-year in the first quarter of the year, totaling 3,400 units. The increase also reflects the success of the government’s housing program
Figures show that districts 5, 6, 1, 2 and 12 are the most expensive and desirable places to live in Budapest
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
Eurostat figures show that home prices grew 3 percent compared to the previous quarter and 10.2 percent compared to Q3 of 2016. Rent is also going up in Budapest and other towns and cities across Hungary
The average price of property in Budapest's central district has risen to 884,000 HUF per square meter for used flats, and prices can reach 1.4-1.8 million HUF for brand new properties