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January 24th, 2018

Budapest is Still Much Cheaper Than Western Europe

However, the cost of housing in Budapest seems to be dramatic in Hungary, it is still much cheaper to get a property even in the most expensive districts than in the countries of Western Europe. This is a great opportunity for foreign investors to consider Budapest based on the high values this city can offer. 

In the most expensive district of Budapest, the price of second-hand homes sold in District 5 last year cost 884 thousand forints per square meters, while the price of new flats went up multiplied, an average price of around 1.5 million HUF per square meter must have been offered. In the financial and economic capitals of Western Europe, for the same quality flat one must pay three or four times more. In other districts of Budapest, the price of the apartments was between 200-800 thousand forints per square meters, depending on the location and the condition, similarly to the prices of the West European companions.

The most expensive apartments are located in larger cities of Switzerland and in the UK (London) and France (Paris). In these big cities, the average square meters of apartments move between the value of 2.1 and 4 million forints, moreover, in London you may have to pay more than 6.3 million forints per square meter.

The capital cities closest to Budapest are also overshadowing us. In Vienna it is possible to meet a square meter price of between 1.1 and 2.3 million forints, and an average square meter price of 1.2 million forints in Warsaw.

 

Source:

https://www.napi.hu/ingatlan/lakast_venne_ez_a_hir_erdekelni_fogja.654027.html

http://privatbankar.hu/ingatlan/azt-hitted-budapest-draga-szetneztel-mar-europaban-315243

 

Interested in buying a property in Budapest?

Interested in buying a property in Budapest?

Contact us to get a tailor made investment advice from the Budapest market specialist.

 

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Tower-International Kft.
H-1052 Budapest, Bécsi utca 2
(at the corner of Kristóf tér and Bécsi utca)
Phone: +36 1 808 9777
Mobil: +36 20 496 8545
Fax: +36 1 354 0981
Mail: info@tower-investments.com

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