This year, analysts expect a mixed picture for international buyers: the government’s Home (Otthon) Start programme is likely to boost domestic demand, while a growing wave of new-build developments — especially in Budapest — may continue to draw interest from abroad.

Who’s Buying?

Germans remained the largest group of foreign buyers in 2024, with 1,369 purchases, particularly in Western and Southern Transdanubia. They were followed by Chinese buyers (708 transactions), then Romanians and Slovaks, each with 671.

Vietnamese citizens bought 329 apartments nationwide, while Russian buyers—185 in total—also showed notable activity.

Trends in Budapest

In the capital, foreign buyers accounted for 7.8% of all apartment purchases, but their transactions represented around 10% of total market value — indicating that they tend to buy higher-priced properties.

International demand was strongest in the inner districts of Pest, where foreign buyers made up 19% of all deals. Chinese and Vietnamese buyers were the most active groups in Budapest, contributing 3.9% of total market turnover.

Regional Patterns

KSH data shows distinct regional preferences among different nationalities:

* Romanians most often purchased in Békés, Hajdú-Bihar, and Szabolcs-Szatmár-Bereg counties, as well as in Budapest.
* Slovaks concentrated their purchases in Borsod-Abaúj-Zemplén (34%) and Győr-Moson-Sopron (19%) counties, with 18% buying in the capital.

How Much Are Buyers Spending?

Russians paid the highest average prices, mainly for Budapest properties, spending HUF 83.5 million (EUR 168,700) on average. Vietnamese buyers followed closely at HUF 83.4 million, and Chinese buyers averaged HUF 76.9 million (EUR 155,300).

At the lower end, Romanian buyers — active mostly outside major cities — paid an average of HUF 16.8 million (EUR 33,900). Dutch and Belgian buyers also remained under the HUF 30 million mark (EUR 60,600).

Price per square metre followed a similar pattern, with Russians paying around HUF 1.4 million (EUR 2,828/sqm), while Romanians and Dutch buyers paid roughly HUF 200,000 (about EUR 404/sqm).

Outlook for 2025

Dávid Valkó, senior analyst at OTP Ingatlanpont, noted that foreign buyers have long played a significant role in Hungary’s housing market, particularly in Budapest.

He expects a “dual trend” this year: the Home Start programme and a stronger forint may reduce the share of foreign buyers, but a surge in new-build supply — thanks in part to priority national investment status and the Housing Capital Programme — could make the market increasingly appealing to international purchasers.
 

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