Hungary's Miskolc housing prices soar while land costs inflate new‑home prices

In Miskolc, Hungary’s fourth‑largest city, newly built apartments are selling for as little as 85 million for a small three‑room unit, while used flats are listed at roughly half that price. The median price per square metre has risen about 72 % over the past two years, reaching around 1.5 million for new units, and the region’s overall housing prices have increased by roughly 15 % in the last year.

Across the country, especially in Budapest, high land prices are a key driver of new‑home costs. In central districts, land values have climbed 41.9 % within a year, pushing average new‑building price per square metre up to 596 000, well above the national average. Experts note that state‑owned or municipal land offered at lower prices could cut new‑building costs by 100–200 000 per square metre, potentially easing affordability pressures.