These are now the favorite districts of Budapest for apartment buyers
The events of 2022 brought about changes in the real estate market. The abolition of utility reduction and the accompanying increase in energy prices increased the sharp increase in property maintenance costs, which transformed both demand and supply.
Never before have interested parties treated the energy characteristics of real estate as such a priority, rather the supply is rather full of outdated homes.
The turnaround can be felt nationwide, in addition to rural areas, the capital’s real estate market is also changing. According to a survey conducted by customers of Duna House, in October this year, the former most popular district, Angyalföld, fell from the top of the popularity list to third place, possibly the inner-city districts, the VII. district, that is, Erzsébetváros, and the VI. district, Terézváros took the lead. In the inner-city areas favored by investors, the range consists mainly of old apartment buildings. The low maintenance costs of detached apartments can be well used for renting, and if you manage to find a property with a larger floor area, these downtown properties can be put to good use either by letting them out per room, or with more work, dividing the apartment into several smaller properties.
The transformation of interest is not only emphasized at the top of the popularity list, the change in the order among the drivers also says a lot. According to Duna House’s real estate market analysis, this October, Csepel, Soroksár and Rákosmente finished at the bottom of the interest ranking list. Compared to the past years, the most noticeable change is the XVII. can be seen in the decrease in demand for the district. In the previous year, an average of 5.3% and in the first seven months of 2022, 4.9% of property seekers looked in the district. cancer properties.
“The XVII. district Budapest’s largest district. With a population of nearly 90,000, Rákosmente is the seventh most populous part of the capital, which enjoyed great popularity during the pandemic, as the citizens of the capital who thirst for space and tranquility chose it instead of the crowded city center and the too distant agglomeration. However, with the increase in the energy efficiency of real estate, the area lost more and more of its appeal.” he explained Károly Benedikthead of PR and analysis at Duna House.
Based on Duna House’s sales data, the figures for 2022 show a 28% change in price per square meter in the district compared to 2021. According to the KSH, more than a thousand properties changed hands in Rákosmente in 2021, and buyers spent an average of HUF 50 million on real estate in the 17th century. in the district, which means an average price per square meter of approximately HUF 610,000 for brick-built homes.
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