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November 17th, 2017

TOP 19: These are the Most Expensive Streets in Budapest

Would you like to live in Vigadó Square or Lánchíd Street? Or will Dorottya Street do it? Or rather, the 13th district? Would you choose Marina avenue for your home? Beautiful places with great features - but none of them will save you any money. Based on the most recent data of the Central Statistical Office, Hungary compiled a list of the most expensive streets in Hungary, with Budapest on top. Let's see where to get the most for one apartment.

In Budapest, the question is always like: where is better to live – in Pest or Buda? Many people know the answer: Buda is much more elite, housing is more expensive. But do they know it well? According to the latest CSO data, they are wrong. By examining data from 2016 it turns out that the picture is quite mixed, and even the district with the most expensive square meters has happened to be in Pest.

Ranking of Apartment Prices:
  1. Vigadó Square (5th district) - more than 1.8 million forints per square meter of the price of apartments
  2. Kossuth Lajos tér (5th district) - 1.1-1.2 million forints are the price per square meter of apartments
  3. Lánchíd Street (1st District) - 1.1 million forints / square meter
  4. Dorottya Street (5th District) - HUF 1 million forints / square meter
  5. Tárnok Street (1st District) - 900 thousand forints / square meter

The row continues afterwards: Balogh Tihamér street (11th), Aranykéz street (5th), József Nádor square (5th), Bakator street (11th), Deák Ferenc street (5th), Vörösmarty square (5th), Marina avenue (13th), Ötvös street (2nd), Garibaldi street (5th), Eszter street (2nd), Vigyázó Ferenc street (5th), Petőfi square (5th), Fehér Hajó street (5th), and Páfrány street (2nd).

From the list it is clear that among the 19 locations in Budapest, not only did the 5th district reach the first place, but also took the most positions. And, as mentioned above, the picture is quite mixed, as the dominance of the 5th district is broken by Buda's many excellent laocations. The most expensive district of Buda is the 1st District, here apartments can be found for between 900,000 - 1.1 million forints per square meter, in addition to this in the 11th and 2nd districts buyers have to go deep into the wallet when paying for an apartment.

It is also interesting that there is a significant (up to half million forints) difference between the first and second ranked districts, while there are smaller differences between the runner-up and the next most expensive streets.

Sold Properties per District

In the light of all this, the number of apartments sold in 5th district is relatively low: approx. 850 apartments changed ownership in 2016. Less sales are only for the 1st, 16th, 22nd and 23rd. districts. Most of the apartments sold were listed in the 14th district (about 3000 apartments here), followed by the 13th. district with 2900 flats sold approximately, and the 11th district approx. 2700 flats sold.
However, it is common knowledge that housing prices not only affect the selling rate, but also the quality of housing, location and related services. What's important is also what kind of apartments we are talking about: a family house, a brick-built house, or a panel flat, since such factors can significantly alter the willingness to buy.




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