Shocking Price Comparison: Rural Hungary vs Budapest

Published: November 21 2023

A recent study conducted by Otthon Centrum compares the prices of newly built homes in rural Hungary and the Balaton region, revealing shocking findings about the cost of housing in these areas compared to Budapest. This article delves into the key points and disparities uncovered by the study.

The study reveals that the average price per square meter for a newly built apartment in the Balaton region is HUF 1.8 million (EUR 4,750), while in rural areas it is only HUF 995,000 (EUR 2,500). This marks a 15% surge in the cost of rural apartments, highlighting a stark contrast to the apparent slow-down or stagnation in Budapest's pricing trends.

Sopron emerges as the costliest city in rural Hungary, with a newly erected flat demanding up to HUF 1.26 million (EUR 3,320) per square meter. Following closely behind is Debrecen, where a new residence incurs an expense of HUF 1.15 million (EUR 3,020) per square meter. In Szeged, a square meter of a new apartment costs HUF 1.07 million (EUR 2,820). The least expensive city to buy a new flat is Békéscsaba, with a square meter price of HUF 605,000 (EUR 1,590).

The Balaton region demonstrates a significant fluctuation in housing prices, with a more than threefold difference between the least and most expensive projects. The closer to the capital, the more expensive the price, with Badacsonytomaj requiring buyers to pay HUF 1.21 million (EUR 3,185) per square meter. On average, prices of around HUF 1.3 million (EUR 3,420) per square meter can be found in Balatonmáriafürdő and Balatonlelle. The highest prices, averaging HUF 2.16 million (EUR 5,690) per square meter, are found in Zamárdi and Alsóörs. The most expensive new project is located in Balatonakarattya, costing an astonishing HUF 3.1 million (EUR 8,160) per square meter.

The study's findings highlight the surprising price differences between rural Hungary, the Balaton region, and Budapest. While the cost of housing in Budapest seems to stagnate, rural areas experience a significant surge in prices. Buyers and investors should carefully consider these disparities when navigating the Hungarian real estate market.

What is the average price per square meter for a newly built apartment in the Balaton region? The average price per square meter for a newly built apartment in the Balaton region is HUF 1.8 million (EUR 4,750).

How does the price of a rural apartment in Hungary compare to the price of an apartment in Budapest? In the first quarter of the year, the average price per square meter for a rural apartment in Hungary was HUF 995,000 (EUR 2,500), which is significantly lower than the prices in Budapest.

Which city in Hungary is the costliest among cities with county status in terms of real estate prices? Sopron is the costliest city among cities with county status in terms of real estate prices, with a newly erected flat demanding up to HUF 1.26 million (EUR 3,320) per square meter.

Which city in Hungary has the least expensive price per square meter for a new flat? Békéscsaba is the least expensive city to buy a new flat in Hungary, with the square meter price sitting at HUF 605,000 (EUR 1,590).

What is the most expensive project in the Balaton region? The most expensive project in the Balaton region is located in Balatonakarattya, costing an astonishing HUF 3.1 million (EUR 8,160) per square meter.

How do prices in the Balaton region compare to prices in Budapest? The closer to the capital, the more expensive the price. In the Balaton region, prices range from HUF 850,000 (EUR 2,240) per square meter to HUF 3.1 million (EUR 8,160) per square meter. In comparison, prices in Budapest seem to be experiencing a slow-down or stagnation.

Are there any cities in Hungary where real estate prices have fallen? Prices have fallen in Győr, Eger, and Veszprém since the end of last year.