Most of these properties have already sold, so according to the latest data, approximately 7 000 new homes are available on the market in the capital. (If you want to get familiar with the recent changes, read our recap of the Hungarian housing market.)
In Budapest the number of new apartments are the highest in district XIII (which is in the Pest side), but close to the city centre – in district VIII, IX, XIV - the number of construction works have also risen. In Buda, the most apartments are under construction in the XI district, it is followed by district III. However, in the case of external districts, there are fewer projects with fewer apartments.
The reason behind the popularity of districts closer to the city centre may be due to lower demand and lower prices, developers can specifically achieve lower profits in developments in outer districts. In addition, it is also a problem that these homes are expected to have longer selling times.
Although many apartments in Hungary are built, these properties are concentrated primarily on Budapest.