One in Five Apartments in Budapest's Inner Five Districts Bought by Foreign Buyers

Published: November 21 2023

The percentage of foreign buyers in the Hungarian property market has been consistently high since last year, at around 6%. In Budapest's inner five districts, one in five apartments was bought by foreign buyers. The highest percentage of foreign buyers is in the Western and Southern Transdanubia regions.

The number of foreign buyers in the Hungarian property market has been increasing in recent years. In 2022, foreign buyers accounted for 6% of all property purchases. The highest percentage of foreign buyers was in the third and fourth quarters of 2022, at 6.6% and 6.5% respectively. The most common nationalities among foreign buyers were Vietnamese, Chinese, and Russians, who spent an average of 60-70 million forints on acquiring a property. In 2022, the average amount spent by foreign buyers on purchasing a property was 43.3 million forints, compared to 25.2 million forints in 2018.

In Budapest, the inner five districts (V., VI., VII., VIII., and IX.) have the highest percentage of foreign buyers. In the first half of this year, foreign buyers accounted for 19% of transactions in these districts. The percentage increased to 21% in the second quarter. This is the highest percentage of foreign buyers in Budapest since the second to fourth quarters of 2019. In the Western and Southern Transdanubia regions, particularly in Somogy County, the percentage of foreign buyers also increased.

German buyers are the most common among foreign buyers, accounting for the majority of foreign property purchases in Hungary. In 2022, they bought 2,127 properties, which is two-thirds more than the previous year and nearly double the number of purchases in the peak year of 2018. Vietnamese, Chinese, and Russian buyers spent the most on purchasing a property, with an average of 70 million and 60 million forints respectively. The average amount spent by German buyers was 29 million forints.

In Budapest, the inner five districts and the 13th district were popular among foreign buyers. In the countryside, Rajka, Battonya, Győr, Mosonmagyaróvár, and Hévíz were considered preferred destinations.

Overall, the presence of foreign buyers in the Hungarian property market has been steadily increasing, with Budapest's inner five districts and the Western and Southern Transdanubia regions having the highest percentages. German buyers are the most common among foreign buyers, while Vietnamese, Chinese, and Russian buyers tend to spend the most on purchasing properties.

=== What is the percentage of foreign buyers in the Hungarian real estate market? The percentage of foreign buyers in the Hungarian real estate market has been around 6% since last year.

Which districts in Budapest have the highest proportion of foreign buyers? The inner five districts of Budapest (District V, VI, VII, VIII, and IX) have the highest proportion of foreign buyers, with every fifth buyer being a foreigner.

Which regions in Hungary have the highest proportion of foreign buyers? In the Western and Southern Transdanubian regions of Hungary, the proportion of foreign buyers is over 10%. Specifically, in Somogy County, the proportion of foreign buyers has increased significantly.

Which nationalities spent the most on purchasing properties in Hungary? In 2022, Vietnamese, Chinese, and Russian nationals spent the most on purchasing properties in Hungary, with an average of 60-70 million Hungarian forints per property.

How has the proportion of foreign buyers changed in Budapest in recent years? The proportion of foreign buyers in Budapest increased from 7.8% to 8.7% in the second quarter of 2022. This increase was highest since the second to fourth quarter of 2019 when the proportion ranged from 21% to 29%.

Which nationalities are the most common foreign buyers in Hungary? German buyers are the most common foreign buyers in Hungary, with 2,127 properties purchased in 2022. They are followed by Slovak buyers, who purchased nearly 1042 properties.

Which regions are popular among German buyers in Hungary? German buyers are particularly interested in Somogy and Zala counties, where they purchased nearly half of the properties bought by German nationals in Hungary.

Which nationality spent the least on purchasing properties in Hungary? Romanian and Dutch nationals spent the least on purchasing properties in Hungary, with an average of 14 million and 19 million Hungarian forints, respectively.

Which districts in Budapest were popular among foreign buyers in the past year? Apart from the inner five districts, the 13th district of Budapest was also popular among foreign buyers.

Which cities outside of Budapest were popular among foreign buyers? Rajka, Battonya, Győr, Mosonmagyaróvár, and Hévíz were among the popular cities outside of Budapest for foreign buyers.