These are the most expensive streets in Budapest

According to recent analyses, Hungary is experiencing one of the most intense price increases in the real estate market within the EU. In figures, second-hand housing prices increased by 20% nationwide, while the new housing market saw a price increase of 21% in Budapest and 26% in the countryside, by compared to the same period last year.

Global real estate sector

24 reports that around 13% fewer new apartments are being built in Budapest than just a year ago, while the price level has risen by around a fifth.

On average, the price of a square meter of a new apartment exceeded 1.3 million forints, or about € 3,400, but the price range can be very different from each other and, interestingly, the V district , previously expensive, is no longer among the most expensive. districts of the capital.

Otthon Centrum experts have compiled the following data from new apartments uploaded to their online platform for sale in the first quarter. They found that there are currently 361 new apartment investments, representing a total of around 27,400 new apartments under construction.

The number of projects in progress decreased by 15.7%, while the number of available apartments decreased by 13.1% compared to last year. However, 32% of the total number of apartments, or about 8,700, are currently only at the planning stage, which is 2% higher than the previous data.

Price trends

Gábor Soóki-Tóth, the principal analyst of the real estate company, said 24 that, if the price of announced projects has increased further, the difference can be shocking between two neighborhoods in terms of the price of new apartments.

It is possible that the price of apartments per square meter will cost between 768,000 forints, which is more than €2,000, and 2,350,000 forints, which is the approximate equivalent of more than €6,180.

The list

Central Home Budapest has compiled a collection of some of Budapest’s best-selling and most expensive streets on the property market, which Haszon published.

Borough V

If, overall, the V district is no longer as sought after as before, there are still streets where the demand is greater than the supply. Evergreen favorites include Andrássy út, Szabadság tér, the Rakpart and the streets near the Parliament.

Ben-Ezra Orran, a Central Home expert, told Haszon that apartments on Andrássy út, Falk Miksa utca, Bem and Széchenyi rakpart (banks), as well as around Váci utca, are desirable areas where prices increased to one and a half to two million forints (€3,900-5,200).

District VI and VII

Ben-Ezra Orran said that in recent years Király utca and its region have been among the most desirable areas of the Hungarian capital thanks to AirBnB and proximity to the party district. However, the shutdown of tourism caused by the pandemic caused a drastic drop in demand which has not fully recovered since.

Andrássy út is an upscale neighborhood in District VI, and apartments can cost between one and a half and two million forints (€3,900 to €5,200), but Király utca, Székely Mihály utca, as well as Zichy Jenő utca, are also of good targets for AirBnBs and apartments and cost around a million forints (€2,600) or a little more.

In District VII, the best investment targets are Király utca (this is the border of districts VI and VII), Dob utca and Klauzál tér where prices range between 900,000 to 1,200,000 forints (2,300-3,100 €).

District XIII

Haszon writes that, according to experts, no observable changes have occurred in the real estate market here over the past decade; Újlipótváros continues to be a very popular neighborhood.

Many prefer the surroundings of Pozsonyi út and Szent István Park where prices for renovated apartments fluctuate between one and one and a half million forints (€2,600-3,900).

Read alsoThese are the most popular Hungarian cities on the real estate market

Source: haszon.hu, 24.hu

Comments are closed.