So many new apartments in the Budapest district – Detailed numbers have been published
At present, newly built flats in Budapest are offered at an average price of HUF 1.1 million per square meter, which is more than almost 8 times higher than in the previous quarter. The rise in average prices was even higher, the average price of a newly built apartment now reaches HUF 76 million in the capital. The variance is very large, the average unit price in the most expensive districts of Buda and Inner Pest is HUF 1.9-2 million, in Külső-Pest you are just big, it does not even reach HUF 800,000.
As shown in the figure above, in previous years, the leading rider District V slipped back to the third step of the podium, with HUF 1.905 million per square meter. The second most expensive is the XII. district, with 1,936 million, while
the most expensive currently in the II. A new apartment can be obtained in the district, where the average price per square meter is HUF 2,042 million.
VI., VII., XI. Are even more expensive than the Budapest average. and VIII. district, while III. The average price per square meter in the district is exactly the same as the average of HUF 1,099 million in the capital. It also reached HUF 1 million in the IX., XIII. and XIV. district and then towards the outer districts level down the numbers. The cheapest is an XXIII. We can buy in the 19th district, where the average is 727 thousand forints, and in four more districts XIX., XXI., X., IV. does not reach 800 thousand forints.
Most vacant apartments offer XIII. district, and on the Buda side in the XI. district is a favorite of developers. In 9 of the 23 districts, only 10-50 have the most available vacant dwellings.
What drives the rise in price?
Behind the price increase, a situation like strong earnings (2,500 flats sold by developers in August, which is a valuable value over the past six years), a 5 percent VAT return, new family benefits, and deferred demand due to high VAT and the pandemic joint appearance. However, the last quarter was boosted by the appearance of the best green loan, but many were also encouraged to buy as soon as possible by fears of rising interest rates. The number of vacant dwellings was so low for the last 5 years, currently not reaching 6,000.
Cover image source: Getty Images