Family houses are being revalued due to rising utility costs – We looked around the Budapest agglomeration
As quickly as it came, the demand for houses with a large floor area can disappear as quickly, since the electricity and gas consumption of smaller family modern, high-consuming properties can well exceed the discount limit. It is therefore necessary to think carefully about what price difference it is worth to buy a house to be renovated, and whether it is worth buying an energetically modern, renovated family house with the higher price.
In order to get a more accurate picture, we did a quick research on how much a family house of around 150 square meters costs today in the three suburbs of Budapest – Gyál, Érd, Dunakeszi – in the lower, i.e. renovated, and upper, i.e. completely renovated, categories.
It’s fine
In the settlement belonging to the southeastern agglomeration of the capital, Ingatlan.com offers nearly 100 single-family houses between 130 and 170 square meters, the average price of which ranges from HUF 300,000 to HUF 900,000 per square meter. You can get a renovated house for less than HUF 400,000 per square meter, while the price of renovated houses can reach HUF 800,000 per square meter.
The property below, located in the center of Gyál, is offered for less than HUF 55 million, although an additional tens of millions are expected to be spent on its renovation.
If someone does not want to deal with renovation, it is worth looking at more expensive, but in good condition houses like the one below, which the owner advertises for almost HUF 120 million, the building has a CC certified energy certificate, and solar panels have been installed on the roof. .
Worth it
Érd, located in the south-western agglomeration of Budapest, also has a wide selection – not by chance, since it is the most populous suburb with a population of around 70,000 – there are more than 500 family houses of this size on offer. The prices are similar or slightly higher than in Gyálon. Among the renovated properties below, they are offered for HUF 65 million, or HUF 433,000 per square meter.
On the other hand, the owner is asking HUF 139 million for a new, well-insulated, Mediterranean-style house with a large lot, which corresponds to a price of HUF 868,000 per square meter.
Dunakeszi
Dunakeszin, part of the agglomeration, which is the country’s most populous non-county town, offers family houses that meet the above parameters, but the prices are slightly higher than in the previous two settlements.
Although we found an ad for a renovated property without a photo for less than HUF 50 million, the family house below, also in need of renovation, is offered for HUF 85 million, which means HUF 650,000 per square meter.
In the case of completely new houses built a few years ago, prices above HUF 900,000 per square meter are not uncommon, as is the case with the newly built house shown in the picture, which has a HUF 154 million square meter floor area and a HUF 140 million price tag.
It is therefore clear that the condition of the property increases more and more in the case of larger family houses. Homes with state-of-the-art insulation and low energy emissions are often advertised for more than twice as much as similarly sized, outdated counterparts. It is certain that the shortage of labor and raw materials still complicates the renovation process, while inflation further increases the construction costs. For this reason, the ever-increasing price difference can be justified based on the condition of the property.
Cover image source: Getty Images