Only 1100 New Apartments for Sale in Budapest

Compared to 2010’s 3800 in January 2015 only 1100 newly built, ready-to-move-in apartments were for sale in Budapest, and 600 were under construction. Last year 50 percent more apartments were sold in Budapest than in 2013; but the investors haven’t been able to keep up with the increasing demand. The current supply includes apartments for sale for more than HUF 1 million per square meter.

More Apartments Can Be Built This Year
According to the expectations more apartments can be built this year, since 30 percent more construction permits were issued in 2014 in Budapest. 82 new properties are to be finished in 2015, but most of them will be small ones: only 2 of them include at least 100 apartments. The price of new apartments is likely to be higher than HUF 450 thousand per square meter.

New Residential Parks
The newly-built properties include Völgyliget Residence in the 2nd district, where 50-240-square-meter apartments are available: the cheapest ones cost HUF 38.4 million. Palazzo Dorottya in the 5th district is even more expensive: a 42-square-meter studio apartment costs HUF 72.7 million. The building includes a sauna, a gym and several stores. 95 apartments are available in Sidi Angel located in the 13th district: a 75-square-meter, 2.5-room apartment costs HUF 35.7 million. In Magdolna Quarter located at the rehabilitated part of the 8th district a 2.5-room apartment is for sale for HUF 25.5 million. And in Carrara Homes finished in 2013, located near Lövölde tér, there are some luxury apartments available that cost more than HUF 1 million per square meter.

Source:http://www.resourceinfo.hu/hu/cikk/lakas/37264.html