The pace of growth in apartment prices slowed in July, while nationwide differences in prices per square metre can be as much as tenfold, according to ingatlan.com.
Month-on-month price growth slowed to 0.1%, while prices were up 11.9% year-on-year. In Budapest, prices increased by 0.9% compared with the previous month, although the report said this may have been a correction following the 0.1% decline recorded in June. According to ingatlan.com’s house price index, apartment prices in the capital were 8.3% higher than a year earlier, while the supply of properties increased significantly.
“Last year, 3,742 newly built apartments were for sale in Budapest, compared with 5,381 this year. The median price per square metre of used apartments in the capital ranges from HUF 942,000 to HUF 2 million, while prices for newly built apartments are approaching HUF 3 million per square metre in the most expensive districts,” the company said.
The national housing market presented a mixed picture. Pest County stood out with a 1.2% monthly increase in July, while the Southern Great Plain saw prices fall by 2.9% compared with the previous month.
Used apartments are the most expensive in Debrecen, with a median price of HUF 1.04 million per square metre. Szeged and Székesfehérvár are also approaching the HUF 1 million mark.
Among county capitals, Salgótarján is the cheapest, with a median price of HUF 312,000 per square metre. Debrecen is also leading in the supply of newly built apartments, with almost a twofold increase, while the average growth in other major regional cities is close to 50%.
According to the real estate company, current trends suggest that annual price growth could remain below 10% this year. The last time such a low rate of price growth was recorded was in 2016.
