Prefab 'Panel' Flat Prices Decrease in Budapest

  • 24 Jan 2024 11:30 AM
  • Budapest Business Journal
Prefab 'Panel' Flat Prices Decrease in Budapest
The prices of prefabricated apartments in the capital decreased by an average of 3% per sqm in 2023, after the 32% increase experienced in 2022, according to data from Duna House, writes

They added that properties of this type, with an average floor area of ​​54 sqm in Budapest, were sold last year for an average price of more than HUF 701,000 per sqm, and an average purchase price of around HUF 37.8 million.

The energy crisis created as a result of the war in Ukraine put low-energy real estate in the center of attention, meaning that the "stars" of the second half of 2022, in addition to new builds, were affordable housing units with favorable maintenance costs for a broader range of customers.

However, due to their "maintenance-protected" label, the square meter prices of apartments in the capital's housing estates rose by an average of 32% in 2022 compared to 2021 due to increasing demand.

MTI Photo: Csaba Krizsán

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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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