Last year, residential property was sold at prices ranging from 1.2 million forints (approx. 3,000 euros) to more than 1 billion forints (just over 2.5 million euros).
Average prices per square metre were around 805,000 forints for flats in traditional brick construction, 420,000 forints for detached houses and 635,000 forints for prefabricated flats, according to real estate agent Duna House. The average asking price for new builds across the country was HUF 830,000 (EUR 2,075) per square metre, although Budapest deviated drastically from this with offers of around HUF 1.5 million. Buyers spent an average of 45.2 million forints (around 110,000 euros) on their new home, 13% more than in 2023. In the countryside, the usual value of a transferred property climbed by 5 to 39 million forints, in the capital less dramatically to 60.5 million forints.
Placed in the luxury segment was a villa for sale in Buda, which was built in an energy-efficient manner to please its new owner with low energy bills, while the seller was promoted to the billionaires’ club with this transaction alone. Outside Budapest, two transactions in Győr and Szentendre stood out from the overall picture, each of which fetched just under 450 million forints. At the other extreme was a small house with 35 square metres of living space in Tolna county, which changed hands for HUF 1.2 million at the price of a used small car.
The highest price per square metre among existing flats was achieved by a property in the 11th district of Budapest, whose 80 square metres found favour with a well-heeled buyer for a unit price of 2.6 million forints. A bizarre living experience must be offered by this flophouse, which consists of a whole seven (!) square metres and was sold in the 20th (peripheral) district of the capital for a whopping 10.8 million forints.
