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One million HUF per sqm in Budapest apartment

Updated: Jul 13, 2023

The price of one million per square meter in Budapest: is this the basis?

The number of districts in Budapest where the average price of real estate is over one million forints per square meter has doubled.

Budapest property price increase

Everyone expected a drop in prices in Budapest,

and this is what happened

  • This year brought an average price increase of around 9% in the districts of Budapest,

  • in the case of 11 of the twenty-three districts, the data show price increases of over 10%

  • in only two districts, Csepel and Újpest (District IV), Leading estate agencies experienced a decrease or stagnation in terms of square meter prices.

"According to a leading agency sales data, in 2022 only two Buda houses, I. and XII. district, as well as downtown Pest in the narrow sense, i.e. District V, were among the districts with a million, but in 2023 the circle was expanded by three more areas," says analysis at leading agency

New members of the million club

Based on the sales of the first five months of this year, II. district, where the price jumped by more than a quarter compared to last year.

"Thus, this year, those who have the II. you want to settle in the district or invest in real estate.

In the capital district with the highest price per square meter, half of the sales represented a value of over HUF 100 million, so II. the amount spent on real estate purchases in the district exceeded HUF 120 million on average based on transactions in 2023.

The XIII. district also joined the districts boasting an average price per square meter of over a million, where you can get an apartment this year for 4% more than the average price measured in 2022. Buyers bought apartments of approximately 55 square meters for HUF 55.5 million on average.

Compared to last year, building a home in Újbuda became more expensive by only 2%, but as a result of the increase in prices, the price per square meter jumped to over one million forints here as well. Buyers who preferred the district spent HUF 63.3 million on average for 63 square meter apartments.

The cheapest district: change at the end of the list

Looking at the 2023 data, Csepel is ahead of XX. district, became the cheapest district in the capital this year. If you want to buy a home in Csepel, you can calculate an average price of HUF 550,000/m2. Based on this year's data, the average amount spent on real estate slightly exceeded HUF 31 million.

Source: by Gergo Zsiborás


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