The price of prefab apartments in the capital began to decrease

By RockedBuzz 4 Min Read

According to this year’s transactions in the capital, in February of this year, the average square meter of panels decreased by 9 percent in Buda, and by 12 percent on the Pest side, compared to the 2022 average. The almost 10-year unbroken price increase in the housing estates of the Buda districts reached its maximum in October last year, while the square meter prices of the panel apartments on the Pest side reached their peak in November 2022.

“While 3% of the Budapest panel apartments sold in 2022 with the cooperation of the real estate agent found a new owner at a price of over one million forints per square meter, the Budapest panel sold at the highest unit price this year was sold for only HUF 857,000 per square meter,” he said. Károly Benedikt, head of PR and analysis at Duna House.

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In the countryside, the data show a slight decrease of only 1 percent in Western Hungary, but in the eastern region, this type of property could be obtained at a price close to the same as last December’s price per square meter in February this year, which shows a 7 percent increase compared to the average value of 2022.

In the eastern region, Debrecen is the absolute winner, in 2022 the most was paid here, HUF 774,000 per square meter for the most expensive panel apartment. In the west, on the northern shore of Lake Balaton, in Balatonfüred, a buyer did not regret HUF 964,000 for a property with a panel structure, while in Veszprém they paid the highest amount, HUF 44.9 million, for a 50 square meter apartment. In the western part of the country, the county seat of Fejér was at the beginning of the year, where HUF 857,000 was the most significant price per square meter so far, and there was a buyer who did not regret paying HUF 42 million for a 67 square meter apartment in Székesfehérvár. – the expert explained the numbers.

The slight nominal drop in housing prices has already been confirmed by several surveys, but the current correction is interesting in light of the particularly high inflation, as it means a much more significant price drop in real terms.

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