Rental and purchase prices for real estate in Budapest are increasing.

In Budapest, the average rental price in the rental market has been 200,000 HUF (506 EUR) since last autumn. In March of this year, the average increased to 210,000 HUF (531 EUR).

The most expensive rental area in Budapest is District V, located in the city center, with an average rental price of 320,000 HUF (810 EUR). In Districts XI and XIII, the rental prices are 210,000 HUF (531 EUR) and 220,000 HUF (556 EUR), respectively.

Districts XX and XXII remain the cheapest, with averages of 139,000 HUF (352 EUR) and 150,000 HUF (380 EUR).

Experts believe that this trend is not surprising, as the latest wage increases have begun to affect the market. Rental prices for properties in Budapest are expected to rise further this year.

According to a report from portfolio.hu, at the beginning of 2023, the average price of a new house in Budapest reached nearly 100 million HUF (254,071 EUR), an increase of over 150% compared to early 2016 (40 million HUF).

Most transactions recorded are for investment purposes or for moving to a larger property.

The most common group of buyers remains local residents. Foreign buyers are mainly German citizens (accounting for 35%), followed by French, Romanian, Slovak, Chinese, Russian, and American buyers.

Among the types of properties, the preferred choice for foreign buyers is pre-owned apartments in central Budapest and some famous tourist areas like Lake Balaton.

Their main motivation is the relatively low property prices, and they are willing to pay in USD or Euro (in 2022, property prices in Hungary fell by 10–15% due to exchange rate fluctuations).

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