Cities' Population Edges Down As Suburbs in Hungary Grow - Along With Property Prices

  • 23 Mar 2023 7:14 AM
  • Hungary Matters
Cities' Population Edges Down As Suburbs in Hungary Grow - Along With Property Prices
The number of permanent residents fell in county seats and several Budapest districts last year, as suburbs saw growing populations as well as property price rises, according to a property analyst.

The population grew by 821 people in Érd, near Budapest, where property prices also grew by 16% to 753,000 forints/sqm.

Other localities near the capital saw the same trend, with the population of Vácrátót growing by 12% and property prices by 17%, László Balogh of real estate website said.

In other suburbs such as Erdőkertes, Nagytarcsa, Biatorbágy and Gyömrő, populations grew by some 300-400 people, while property prices rose by 4-21%, he said in a statement.

Meanwhile, the population of Budapest fell by 13,000 last year to 1.63 million, and cities like Pécs, Szeged, Debrecen and Miskolc lost 1,100-2,200 inhabitants, the website said. Still, property prices in cities grew by 13-21%, to 660,000-813,000 forints.

The price increase in districts and country seats already losing inhabitants was due to continued high demand due to investors and the population loss came to only 1% in those cities, noted.

Also, certain Budapest neighbourhoods and university districts remain popular with investors who are driving up prices, the statement said.

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