The price per square meter of pre-owned flats in the capital increased in each district compared to the same period last year, ie the second quarter. The rate of increase in each district exceeded 10%, but the price-boom in the outer districts that offered affordable properties was even higher.
In the outer districts of Budapest, the price level is typically less than half the average price per square meter in the District V, and the price increase was more than 30 % in the X, XV, XX, XXI, XXII districts. The price of Budapest downtown property transactions was 20-30 % higher than last year, while the Buda districts showed a 20 % increase over the year.
In terms of square meter prices, District 5 continues to be the most expensive, with the average unit price of transactions exceeding 1 million forints per square meter. Most of the Buda districts (except the District XXII) are characterized by 700-850 thousand forints per square meter, just like in the District VI. and XIII. In the other districts of the city, flats in brick buildings are available from 600 thousand forints and in the outer districts from 450 thousand forints per square meter.
The recent prices increases have attracted investors and private home owners alike, which also drove rental prices higher all over the Budapest real estate market.
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*Source: Otthon Centrum