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Hungarian Real Estate Market: Already 100-Fold Difference in Prices per Square Meter

Hungary Today 2021.11.20.

The difference between the most expensive and the cheapest prices per square meter on the Hungarian real estate market has already reached a total of 100 times: while in Budapest’s 2nd district the price per square meter is 2 million forints (5,500 euros), you have to pay only 10,000 forints (57 euros) for the same in Rudabánya in northern Hungary.

This article was originally published on our sister-site, Ungarn Heute. Translation by Júlia Tar

According to the Central Statistical Office (KSH), the most expensive real estate prices in Hungary are still in the capital of Budapest: Vérhalom Square in the 2nd district is in first place with a price per square meter of HUF 2 million (EUR 5,500), followed by Vörösmarty Square in the 5th district with 1.4 million (EUR 3,850).

The ranking outside Budapest is led by Zsira in Győr-Moson-Sopron County – located close to the Austrian border – and Fürdő Street in Fonyód, after buyers paid HUF 1.08 million (EUR 3,000) per square meter for the properties. They were followed by properties also on the shores of Lake Balaton: Erkel Ferenc Street in Balatonfüred at HUF 1.02 million (EUR 2,800), and Deák Ferenc sétány in Siófok at HUF 966,000 (EUR 2,700).

Lake Balaton Real Estate Prices Near-Identical to Croatian Coast
Lake Balaton Real Estate Prices Near-Identical to Croatian Coast

Due to the past years of the rapidly rising cost of real estate at Lake Balaton, square meter prices are becoming almost identical to those of the Croatian coast, news site G7 reports. The economic portal points out that prices boomed drastically at Lake Balaton in the past few years as square meter prices today […]Continue reading

On the other hand, the lowest price of 21,000 forints (EUR 57) is being asked for one square meter in Árpád utca in the northern Hungarian municipality of Rudabánya, in Borsod-Abaúj-Zemplén county.

And as for individual apartments: according to the online real estate agency ingatlan.com, the most expensive apartments are located in St. Stephen’s Square in Budapest’s 5th district with an average price per square meter of HUF 2.975 million (EUR 8,200), followed by Trinity Square (Szentháromság tér) in the first district at HUF 2.8 million (EUR 7,700). On the other hand, the cheapest real estate can be found in the municipalities with an average price per square meter of around HUF 10,000- for example, in Kevermes in eastern Hungary, Fábiánsebestyén in southern Hungary, or Egyek in eastern Hungary.

Source: Privátbankár, 24.hu

Featured image via Pixabay