Hungarian new‑apartment market sees price rise as construction slows

In Hungary, prices for newly built apartments continue to climb despite a slowdown in construction activity. Around Lake Balaton, the average price per square metre for new homes has reached 2.5 million forints, while the number of ongoing projects fell 5.1 % from the previous quarter. The region’s supply is tightening, with only six new projects announced in the second quarter, totaling 219 apartments, and Siófok remaining the largest development hub.

In Budapest’s Óbuda district (III.), no new apartments qualify for the Otthon Start mortgage scheme, leading sellers to raise prices for older or lower‑quality units. Median prices for new apartments exceed 1.8 million forints per square metre, with luxury projects such as Waterfront City commanding prices up to 200 million forints for three‑bedroom units. Ongoing large‑scale developments are nearing full sale, though deliveries are not expected until 2027‑2028.