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New Home Prices Edge Higher in Budapest, but Growth Rate Slows

• 3 Jul 2023 12:16 PM
• Hungary Around the Clock

The price growth of newly built homes in Budapest slowed considerably in the second quarter, after double-digit growth in previous quarters, real estate broker Otthon Centrum said in a report.

The average price of a new home in the city rose by 1.3% from the preceding quarter to Ft 1,582,000 per square metre and was up 12.2% on an annual basis.

There has never been such a big difference in prices between districts, chief analyst Gábor Soóki-Tóth observed.

The average price per square metre varies from Ft 932,000 to Ft 3,081,000.

Otthon Centrum’s June survey found that there are 26,700 new homes being built in Budapest under 338 housing projects.

The average price asked by developers is Ft 1.6 million per square metre, which is practically unchanged from the previous quarter.

New home prices in Budapest were highest in the Fifth District, at Ft 3.08 million per square metre, followed by the Second District, at Ft 2.99 million.

The average price per square metre was lowest in the 15th District, at just below Ft 1,000,000.

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