New flats: he defeated all the districts of Budapest from the throne in a settlement in Lake Balaton
In the first quarter of 2022, 10.2 thousand new apartments were under development and sales in the countryside, which was a 9 percent increase over the same period of the previous year. Rural housing developments are typically concentrated at Lake Balaton and in the county seats, which, according to Eltinga, Housing Market Report also confirms. Half of the national developments outside the capital can be attributed to only 10 districts. Not only at Lake Balaton, but also nationally, except for the capital
the Sifok district is the most popular development site, with 1,038 apartments currently under construction or under construction being offered for sale.
With this volume, Siófok was able to dismiss cities like Győr, Debrecen or Kecskemét, but fewer apartments are being built in most districts of Budapest.
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All this is reflected in the prices
The average price of new dwellings in the settlements on the shores of Lake Balaton has now caught up, and in many settlements it has even surpassed the price per square meter of around HUF 1.2-1.3 million in the capital. All this is due to the fact that a significant part of the projects in the lakeside settlements are built directly on the waterfront, ie on the most expensive plots.
However, there is one settlement that stands out even in relation to Budapest, where the new flats in the current offer are offered more expensive than in all districts of Budapest, at an average price of HUF 2.2 million per square meter. This is nothing but Balatonakarattya, where such a jump in prices is due to only two projects, in each of which the apartments were advertised at extremely high prices.
The figure above shows the districts of the capital and the settlements on the shores of Lake Balaton, in which new flats are offered for sale in at least two projects with a minimum of 10 flats. Although the prices are higher only in Balatonakarattya than in the four most expensive districts of Budapest – presumably only temporarily there – several settlements at Lake Balaton are more expensive in the second-line districts of the capital according to the price.
In Balatonakali and Alsóörs, flats, mostly in waterfront buildings, are offered for around 1.6-1.7 million forints.
However, the larger cities are not far behind either. The average price in Keszthely and Siófok also reaches HUF 1.4-1.5 million, and it can be assumed that if there were a sufficient number and size of construction sites in Balatonfüred, the average would be at least that much.
In the smaller settlements, which are further away from the capital, you can get a newly built, near-water apartment at a slightly cheaper price, therefore the developers offer their apartments in the streets close to the coast above the price of 1 million square meters.
There are partly market reasons behind this increase in prices. We have talked a lot about the fact that the shortage of raw materials caused by covid and the war plays a big role in the jump in construction costs, but the sudden demand at Lake Balaton and the supply that only partially keeps up with it is an important reason for finding housing at such prices. .
Cover image source: Getty Images