Lake Balaton Real Estate Prices Near-Identical To Croatian Coast

  • 27 Aug 2020 8:50 AM
  • Hungary Today
Lake Balaton Real Estate Prices Near-Identical To Croatian Coast
Due to the past years of the rapidly rising cost of real estate at Lake Balaton, square meter prices are becoming almost identical to those of the Croatian coast, news site G7 reports.

The economic portal points out that prices boomed drastically at Lake Balaton in the past few years as square meter prices today are in the range of 300-500,000 forints, although the average price was only between HUF 150-300,000 in 2018.

Citing data from the Croatian Statistical Office, G7 finds that the average price per square meter of new real estate in Croatia, excluding Zagreb, was approximately HUF 550,000 in 2019.

As Croatian market experts expect a decline in demand due to the coronavirus epidemic, it is unlikely that a significant increase in prices will happen.

László Balogh, senior economic expert of Ingatlan.com, says that based on their own data, the average housing price was HUF 50 million on the southern shore of Balaton and HUF 60 million on the northern side in mid-August this year.

If we start browsing the offers in Croatia, we can see that for that sum, many really well-located apartments can be found relatively close to the sea, he added.

In the last two years, prices at Lake Balaton increased by 35% on the south coast and 50% on the north. During the coronavirus epidemic, which brought economic uncertainty, it has become clear that besides Budapest, this area has the highest liquidity in the domestic real estate market, Balogh concluded.


MTI Photo 

  • How does this content make you feel?

XpatLoop Media Partner

Hungary Today

Online since 2014, this source states its aim as "to provide a complete, unbiased picture of Hungary”. It continues by acknowledging this “does not necessarily mean that our writers do not have their own opinions, sometimes reflected to a degree in the articles they publish”, and it's really worth readers keeping that in mind. Another stated aim is to become ‘the leading English-language news portal of Hungary’, a position held for 20 years by good old independent XpatLoop! Still our team has no issue with positively highlighting one or two useful articles published by Hungary Today here with permission for your interest.

Explore More Reports

  • Property Rental Prices Fall By 10% In Hungary

    Property Rental Prices Fall By 10% In Hungary

    • 28 Jul 2020 7:46 AM

    Real estate rental fees are falling nationwide, with prices down by an average 10%, at around 150,000 forints (EUR 433) in Budapest and 100,000-110,000 in university cities, an expert of real estate site ingatlan.com said.

  • Waterfront Properties Popularity Still Buzzing In Hungary

    Waterfront Properties Popularity Still Buzzing In Hungary

    • 7 Jul 2020 7:51 AM

    According to data of OTP Ingatlanpont, the market of waterfront real estate is still buzzing in the areas outside Lake Balaton, and interest is also lively on the banks of the Danube, as well as on Lake Velence, the Tisza and Lake Fertő, as prices have not been pushed back by the epidemic, writes origo.hu

  • Real Estate Discounts Getting Bigger In Hungary

    Real Estate Discounts Getting Bigger In Hungary

    • 24 Feb 2020 10:12 AM

    According to the latest sales data of OTP Real Estate, between November 2019 and the end of January 2020, buyers could receive an average discount one-third higher than a year earlier as a result of last-minute negotiations, writes penzcentrum.hu.