Budapest Home Prices Skyrocket Year-On-Year

  • 24 Aug 2018 7:44 AM
  • Budapest Business Journal
Budapest Home Prices Skyrocket Year-On-Year
Compared to August last year, home prices per square meter in Budapest have risen on average 20%, but there is wide variation in prices and growth depending on the zone of the city, a study by real estate database shows.

The highest growth was registered in Hűvösvölgy in Budaʼs District 2. Prices here currently stand at a whopping HUF 1.1 million per sqm, which represents a 66% growth over one year. Lipótmező and Rézmál, also in District 2, registered respective 54% and 45% growth in prices, reported, cited by news portal

Average prices in the Hungarian capital stood at HUF 600,000 per sqm in August. Apart from the high-value areas in Buda (Districts 2, 11 and 12), high price growth was also registered in the outer districts of Budapest.

Apartments in prefabricated buildings (so-called "panel" housing) fetch HUF 470,000/sqm, with the highest growth rates seen in Pesterzsébet, Budatétény and Kőbánya.

László Balogh, an expert at, said that one reason for the price growth is the announced tightening of home lending rules from October, which makes potential buyers speed up their acquisitions.

As for the panel price growth, he said that some home buyers are only able to buy in such areas as they cannot cope with the price increases in higher-value districts.

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Budapest Business Journal

Hungary's largest and oldest source of business and financial news in English. Since 1992 it has presented essential information on Hungarian business life, including international analyses about the country. These days the BBJ newspaper is published every other week, while it releases daily business news online including premium paid content.

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