Price increases are slower in Budapest, but Debrecen's real estate market remains strong

In April, the upward price trend in Budapest’s housing market showed signs of easing, as the rate of price increases slowed compared to the previous month—mirroring a decline in investor demand, according to a new analysis from Ingatlan.com shared with MTI on Tuesday.

The statement quoted László Balogh, lead economic expert at Ingatlan.com, who explained that based on monthly data, price growth in April was below 2% both nationally and in the capital. This contrasts with the earlier months of the year, when Budapest experienced price increases exceeding 4% between January and February.

However, on a yearly basis, the rise in housing prices remains significant: nationally, prices rose by 12.5%, and in Budapest, by 19%. Following Budapest, the highest annual growth rates were observed in Hungary’s Southern and Northern Great Plain regions—areas that include cities like Debrecen and are seeing substantial industrial development.

In Budapest, the median price per square meter for second-hand apartments and houses reached 1.27 million forints. This figure climbed to 1.3 million for apartments in buildings, and to 1.5 million for used studio apartments under 40 square meters.

Due to the soaring prices in the capital, many buyers are once again turning to suburban areas. This is reflected in the Budapest agglomeration, where the monthly rate of price growth accelerated from 0.8% in March to 1.7% in April.

According to Ingatlan.com’s data for May, Budapest’s District V was the most expensive, with the average price per square meter for used residential properties nearing 2 million forints. The most affordable district remains District XXIII, with average prices around 785,000 forints per square meter.

Looking at other major cities, the average price per square meter was: