Budapest agglomeration real estate prices rise 11.5%

Real estate prices in the Budapest agglomeration increased by an average of 11.5% during the first eight months of this year, reaching 872,000 HUF per square meter. According to analysis by Duna House, the average purchase price for a property in the area rose to 87.7 million HUF, an increase of 11 million HUF compared to the same period last year.

The price growth was most significant in the southern and southeastern sectors, with increases of 18% and 20% respectively. In contrast, the western sector saw a 3% decrease in average square meter prices, although it remains the most expensive region with average purchase prices near 100 million HUF. The northern sector recorded an average of 940,000 HUF per square meter, while Dunakeszi reached 1.18 million HUF.

Market shifts indicate a decrease in more affordable options: properties priced under 50 million HUF dropped from 28% to 19% of total transactions, and those under 100 million HUF fell from 81% to 69%. The Otthon Start program has influenced the market, with the proportion of first-time buyers rising from 21% to 28%.