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Writer's pictureHomes in Budapest

Would you like to buy an apartment in the Hungarian capital? It is now or never!



In previous years, house prices in Budapest have been rising steadily. However, the pace of price increase has slowed, and in some districts, prices have not risen at all. Many experts expected prices to drop due to the coronavirus epidemic. This did not happen; however, the fact of stagnation is also surprising based on the experience of previous years. If someone wants to buy an apartment in the capital of Hungary, Budapest, this is the time because, in the future, the prices will probably only get higher.




The recovery of the Budapest real estate market started in 2014. The peak was between 2018 and 2019. This is well illustrated by the fact that in 14 of the 23 districts, house prices rose by more than 20% on average in one year. This dynamic price increase was interrupted by the coronavirus epidemic that spread through Europe in the spring of 2020. This also completely disrupted and made the real estate market unpredictable.


Many expected a huge price drop of up to 10 per cent.


This did not happen; however, instead of the previously double-digit rise, house prices in most districts barely rose. Moreover, prices stopped increasing completely in the fifth district, in the centre of Budapest. Among the most expensive districts are the fifth, the first, and the second district, while at the bottom of the list are districts XXIII, XX, and XXI, writes portfolio.hu.


District XXIII was still the cheapest district of the capital, despite the fact that, on average, house prices rose the most here. It is difficult to predict what to expect in 2021. For the time being, it can be observed that the market is beginning to pick up.


The real estate market is already thriving in Buda.


Based on the first couple of months, no change can be seen in Pest. In addition to Buda, the agglomeration of the capital is also starting to pick up, as emigration to the agglomeration is becoming an increasingly strong trend. On the Buda side, in addition to housing estates, the demand for premium real estate is also growing. Due to the pandemic, many people are also looking for riverside and lakeside properties.


There was a low point in trade a year ago. In March 2021, however, for the first time in the last 10 years, the number of sales exceeded 15,000. Government home subsidies and the future relegation of the epidemic could provide a further push to rising property prices. So, if someone would like to move to the beautiful capital of Hungary, there is no time for hesitation.


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