In the past decade, many people have moved to Lake Velence (Venice), close to Budapest, and to settlements near Lake Balaton in western Hungary, according to an analysis of census data by real estate website Ingatlan.com. However, this outward trend has also meant that residential property on Lake Balaton has increased in price by around 250 percent in five years, reports Világgazdaság.
The national housing market has been transformed over the past decade. Within the country, the popularity of suburban settlements can be seen mainly around the capital. For example, the population of Nagytarcsa, near Budapest, has increased by 67 percent in ten years, and the average price per square meter has risen by 122 percent compared to 2018.
It is not only the settlements near the capital that are experiencing population growth, but also those near Lake Balaton.
In Alsóörs and Balatonalmádi, on the more popular northern side, the population has increased by more than 10 percent compared to 2018, while house prices have risen by 222 and 280 percent respectively over the past five years.
A similar trend can be observed on Lake Velence, just 50 kilometers from Budapest, where Gárdony and Velence have become even more popular among Hungarians. The fact that these settlements form part of the wider Budapest agglomeration and are also part of the Székesfehérvár suburban area may be a factor in the population growth. Compared to 2018, the price of residential properties for sale in Velence increased by 105 percent to HUF 805,000 (EUR 2,180) and in Gárdony by 136 percent to HUF 771,000 (EUR 2,090).
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