Here are the most expensive and cheapest housing estates in Hungary

By RockedBuzz 11 Min Read

The decline in housing market turnover beginning in 2022 strongly affected housing estates as nicely. While the variety of transactions in the total sector decreased by 14.4 % in one yr, the KSH recorded a lower of 18.6 % in housing property residences. This additionally barely lowered the weight of the submarket, whereas in 2021 houses in housing estates accounted for 13.2 % of the whole turnover, in 2022 it was solely 12.5 %.

However, in some cities and districts of the capital, gross sales and purchases of housing estates seem prominently on the housing market. Among them, the largest turnover was registered in Miskolc in 2022, the place the variety of housing property transactions exceeded one thousand. Budapest III was only some dozen behind. district, adopted by Debrecen, Pécs, Szeged, and three capital districts (IV., XV., XI.) forward of Győr.

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Although demand has fallen, costs have continued to rise final yr. According to the information supplied by NAV, residences in housing estates rose in worth by 15 % in one yr, barely behind the normal market tempo. Thus, right this moment the common worth per sq. meter exceeds HUF 540,000 nationally, and HUF 740,000 in the capital. However, these averages masks very vital variations.

The distinction between the common worth of the cheapest and the most expensive of the housing estates with larger site visitors is sort of 9 occasions.

It occurred for the first time final yr, he factors out Dávid Valkó, senior analyst at OTP Ingatlanpont – that the worth of 1 million sq. meters was not solely reached in a couple of gross sales, however the common gross sales worth of a whole residential advanced additionally exceeded this worth. This was achieved for the first time by the Lágymányosi housing property in Újbuda (1.026 million HUF/m2), which was nonetheless constructed utilizing block know-how. But the analyst calculates that subsequent yr an actual panel, the – at the moment the second most expensive (HUF 953 thousand/m2) and additionally in the capital, III. District – Pók utca residential advanced can even exceed the million mark.

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Among the cities and neighborhoods in which housing property site visitors was extra vital in the previous yr, the districts of Budapest are usually the most expensive. Among them, XI. district had the highest common worth per sq. meter (HUF 890,000), not far behind in XIII. district (HUF 863 thousand). Behind them belongs to the higher tract of the central zone of the capital, the IX. (814 thousand HUF), the III. (762 thousand HUF) and XIV. district (760 thousand HUF). In the cheapest elements of Budapest, in the south-eastern quarter of the metropolis, the common sq. meter of housing estates doesn’t even attain 700,000. This contains Kőbánya, Pestszentlőrinc-Pestszentimre, in addition to Csepel, and at the finish of the line, Pesterzsébet with its common worth per sq. meter of HUF 618,000.

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Even in a couple of rural cities, panel residences have a better particular worth than Pesterzsébet. Debrecen is the chief amongst these with larger site visitors, with a mean of HUF 628,000, simply behind Veszprém (HUF 624,000). Székesfehérvár (HUF 597,000), Sopron (HUF 592,000) and Győr (HUF 575,000) are additionally at the prime. But in this regard, it ought to be famous that in the capital agglomeration there are some settlements and housing estates with decrease site visitors than these talked about above, the place the established costs replicate the situations in the capital. An instance of that is Budaörs, the place panel residences have been offered at a mean worth of HUF 856,000 per sq. meter final yr.

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On the different hand, in many rural cities, houses in housing estates change fingers for a 3rd or 1 / 4 of that quantity. From this viewpoint, the cheapest are Komló, Salgótarján and Ózd, the place the common worth per sq. meter doesn’t even attain HUF 200,000.

Even inside a single metropolis, there may be huge variations in the consolation and status of particular person housing estates, which can also be mirrored in the established costs, so it’s value inspecting the extra populous ones individually. According to this, after the aforementioned Lágymányosi and Pók utca housing estates, the Fiastyúk utca housing property (HUF 899,000) is the most expensive in the XIII. district, in addition to the Gazdagréti (HUF 878,000) and Kelenföldi (HUF 873,000) housing estates in Újbuda. The cheapest ones may be discovered in the already talked about southeast quarter: the XX. district, the Pesterzsébet metropolis middle housing property (HUF 611,000), the XVIII. district, the Havanna housing property (619 thousand HUF) and the XXI. in the district, the Erdősor utca residential advanced (HUF 626,000).

The most expensive and cheapest housing estates in Budapest
Residential advancedHUF/m2
Budapest XI., Lágymányosi housing property (not panel) 1,025,533
Budapest III., Pók Street (Római Street) housing property 952,780
Budapest XIII., Fiastyúk Street housing property (not panel) 899,273
Budapest XI., Gazdagréti housing property 877,654
Budapest XI., Kelenföldi housing property 872 627
Budapest XIV., Kerepesi út-Fogarasi út housing property (not panel) 847 478
Budapest XI., Őrmezői housing property 823,532
Budapest III., Kaszásdűlő housing property 817 011
Budapest XX., Pesterzsébet-city middle housing property 610,728
Budapest XVIII., Havanna housing property 619,160
Budapest XXI., Erdősor utca ltp. (not panel) 626,099
Budapest X., Újhegyi housing property 628 180
Budapest XXI., Csepel-city centre, ltp 634,276
Budapest XVIII., Baross Street (KISZ) housing property 636,400
Budapest XXI., Csillagtelep (not the total panel) 653,082
Budapest XVIII., Lakatos út housing property 692 443
Source: OTP Ingatlanpont, Portfolio

After the aforementioned Budaörs housing property, Debrecen is the most expensive housing property amongst the huge rural cities: Sestakerti / Vénkerti houses have been offered and purchased at a mean worth of HUF 722,000 per sq. meter final yr. With this, they surpassed the subsequent in line: Veszprém Cserhát (HUF 711 thousand), Székesfehérvár Szedreskerti (HUF 662 thousand) and Győr Kígyó Street (HUF 624 thousand). In distinction, you should purchase a panel condominium in Ózd for six occasions the worth, as a result of there are at the moment three of the cheapest housing estates in the nation: Régi Béke (117,000 HUF), Vasvári úti (130,000 HUF) and Béke (148,000 HUF).

The most expensive and cheapest housing estates in rural cities
Residential advancedHUF/m2
Budaörs, Budaörs housing property 855,507
Debrecen, Sestakerti / Vénkerti housing property 721,903
Veszprém, Cserhát housing property 710 714
Székesfehérvár, Szedreskert residential space 661,728
Győr, Kígyó utca housing property (not panel) 624 186
Debrecen, Újkert housing property 615,690
Debrecen, Tócóskert housing property 614,067
Székesfehétvár, Palataváros 600 215
Ózd, Régi Béke housing property (not panel) 117,244
Ózd, Vasvár út residential advanced 129,643
Ózd, Béke housing property (not panel) 147,810
Salgótarján, Gorky housing property 148,900
Komló, Körtvélyes housing property 174,938
Komló, Kenderföldi housing property (not panel) 190,383
Salgótarján, Kemerovo housing property (not panel) 200,594
Komló, Kökönyös housing property (not panel) 202 216
Source: OTP Ingatlanpont, Portfolio

With regard to the way forward for the housing property market, the main analyst of OTP Ingatlanpont believes that the most necessary factor is that panel residences retain their worth nicely. You can reliably rely on the indisputable fact that the site visitors in the housing estates is usually good, the inside structure of the residences is livable, their upkeep prices may be calculated, and they are often cheaper than the surrounding brick residences, so they’ll all the time be appropriate both as an funding or as a starter residence, and are subsequently value-preserving, good buys they are often.

Cover picture supply: Getty Images

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