The prices of panel flats in Budapest have exploded
Compared to last year’s sales data, the price per square meter of prefabricated flats in the capital increased by HUF 100,000.
The average panel price turned out to be HUF 35.5 million in Budapest, which means a price of HUF 666 thousand per square meter. The first quarter peak was held in an XIII. district 36 sqm panel apartment, for which it was purchased for HUF 39 million, ie the price of HUF 1 million per square meter has already been exceeded here – it turned out from the transaction data of Duna House in the first quarter.
The popularity of prefabricated flats has been unbroken for a long time.
Most panel flats are in the XI., XIII., XIV., And III. district was sold in the first quarter, the most expensive district in terms of panel, according to Angyalföld. The XIII. The average price in the 18th district was HUF 43 million, compared to the cheapest in the 18th century. district, where the prices of prefabricated flats approached HUF 30 million.
“Demand for prefabricated homes remains strong, as evidenced by the shrinking bargaining position of buyers. Of the final announced price, buyers in Buda were only able to bargain on average, and on the Pest side only 2%, but at 10% of the transactions, customers were already bidding on the flats, thus exercising a little higher than the final price. ” Said Károly Benedikt, Head of Analysis at Duna House.
The price of one million forints per square meter is still a curiosity, but it shows the potential for appreciation well. With an increasingly multi-meter transaction, we are meeting a price of 80-900 thousand square meters, which used to be typical of downtown brick flats, the expert added.
In the first quarter, the most expensive panel apartment was an 80-square-meter panel apartment, which the new owner bought for HUF 61 million. It didn’t take an average of 90 days to sell successfully, but the best-selling homes were sold in just a few days by real estate salespeople. Duna House will publish its first quarterly Barometer analysis next week, which is the first to include this year’s first price indices.
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