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Outer Districts Become More Popular as Downtown Prices Continue to Skyrocket

2018.11.05.

Prices are soaring in downtown Budapest. As a result, buyers are flocking to the outer parts of towns and cities in growing numbers.

Ingatlan.com, one of the country’s largest housing websites, regularly publishes data reflecting market changes. Analyst László Balogh shared that the most searched destinations on Ingatlan.hu are located in the XXII., XXI., XX., XVII. and XV. districts.

Districts of Budapest

He explained that the number of customers in the market is not decreasing despite the constantly rising prices. According to the company’s analysis based on the latest data from the Central Statistical Office (KSH), the average square meter of Csepel’s second-hand homes increased by 27 percent since last year.

Although the X. and XV. districts have experienced a significant 36-40 percent increase, the prices have not exceeded 500,000 forints per square feet per square meter.

According to Balogh, the trend is also reflected in rural big cities as customers are turning to cheaper districts instead of expensive downtown locations.

Via: Mti.hu

Image: Magyar Hirlap