In the second half of 2024, the new housing market Budapesthas seen a significant upswing: 5,300 new apartments in residential complexes were sold, the Hungarian real estate agency OTP Ingatlanpont reported in an interview with the Budapest Business Journal.
The total sales volume for 2024 amounted to 8,800 units, which is almost three times more than in 2023. The 13th Arrondissement is still the market leader, and the 11th Arrondissement has also surpassed the 1,000 sales mark.Analysts expect last year's record sales to be the beginning of a steady trend, given the government's new measures aimed at further developing the sector.
According to the latest OTP Ingatlanpont report, sales began in 111 new residential complexes in the second half of 2024, which will increase the housing stock of the Hungarian capital by 5,200 apartments in the coming years.Throughout the year, sales began in 208 projects, 17% more than in 2023, resulting in 8,200 new apartments under construction, which is almost two and a half times more than in the previous year.
According to OTP Ingatlanpont, the average price per square meter in new houses, the construction of which is scheduled to be completed in 2025, is 1.59 million Hungarian forints (3894 euros).It is expected that by 2026 this property will rise in price to 1.61 million Hungarian forints (3942 euros)."On the Danube embankment, prices can easily exceed 2 million HUF per square meter, and in the prestigious areas of Buda, it is possible that the price will be 4 million HUF per square meter."
Source: Budapest Business Journal
