Buda villas continue to be the most sought-after areas for luxury real estate in Hungary, but the market has undergone significant changes in recent years. An expert at Duna House Prime believes that there is currently high demand for turnkey villas with premium amenities and panoramic views, while older, outdated “shacks” can often only be sold at land value.
This year’s highest-priced sales took place in Budapest, particularly in Districts II, III, XI, and XII. According to Duna House data, the median sale price was HUF 350 million (EUR 875,000), the average price was HUF 431 million (EUR 1,077,500), and the peak was HUF 1.8 billion (EUR 4,500,000), with 84% of transactions taking place in the capital. Houses dominate the upper category (72%), with a median price per square meter of HUF 1.6 million (EUR 4,000), and a significant proportion of transactions closing above HUF 1.6 million (EUR 4,000) per square meter.
Buyers are increasingly looking for turnkey, modern properties, typically with a 70-100 m² living room, at least five bedrooms, a separate guest area, a utility room, multiple garages, smart home solutions, and energy-efficient systems. The expert pointed out that there is now little demand for the Mediterranean-style houses with indoor pools that were popular in the 1990s and 2000s, so they are selling more slowly on the market.
The luxury market is less sensitive to economic changes, and well-positioned, beautifully photographed properties usually find buyers within two to four months. For buyers, the value of a property is determined by its location, panoramic views, quality of construction, and the range of services on offer. According to Alexandra Szabó, an expert at Duna House Prime, “a panoramic view is a must for properties priced above HUF 1 billion (EUR 2,500,000), otherwise the property cannot be sold at a reasonable price.”
Related article
Pedestrian Bridge Planned in Phase II of Óbuda’s Waterfront City
Biggeorge Property commits over HUF 4 billion (EUR 10 million) to infrastructure, housing, and community development, including a new bridge to Óbuda Island.Continue reading
Via Duna House; Featured photo: Facebook/Duna House Prime
The post Budapest Villas Remain Hungary’s Luxury Hotspots appeared first on Hungary Today.
Source link
