Szeged property market feels BYD-effect

Written by Christina Vontin

News of the construction of the BYD car plant has boosted the property market in Szeged: According to Duna House, a third more transactions were made last year than in 2023.

Prices per square metre rose by an average of 14% to over 660,000 forints (approx. 1,650 euros) within a year. This year, both new builds and renovated existing flats could achieve prices per square metre of around HUF 1 million for the first time. The KSH property database shows that an average of around 3,100 residential properties changed hands in Szeged every year between 2015 and 2018. In 2019, demand for flats in the city fell by 17%. In the more passive market phase of 2022/23, the number of sales fell by a further quarter compared to 2020/21.

The production launch of BYD planned for October and the inflow of capital from the proceeds of government bonds are likely to further increase the presence on the property investment market alongside active home builders. Experts expect a further intensification of the property market in Szeged, which already accounts for 60-70% of all transactions in the county.