Average new home in Budapest costs HUF 120 million - These are the most and least expensive districts
The primary reason for the price rise was increased demand, as the number of homes sold in the quarter was the highest since the survey began, with developers selling 2,521 new-build homes, 78% more than the previous quarter. On an annual basis, the jump is even greater, although last year's base was extremely low.
This year, developers have sold around 6,800 homes, compared to just 2,600 last year.
Unit prices increased by 6.3%, so the average price of new-build housing reached HUF 1.63 million/m2 in the fourth quarter of 2024.
Currently, an average new-build apartment in Budapest costs nearly HUF 120 million.
The sharpest increase was recorded in Buda (16.5%), while the annual increase was half as high in Outer Pest.
However, unit prices have not only risen due to higher starting prices for new projects coming onto the market, but developers have also been re-pricing apartments already on the market more frequently than before in the past quarter.
The share of homes affected by repricing was over 50%, and 83% of the price changes were increases.
Most often, nearly a fifth of dwellings saw an increase of between HUF 2.5 and 5 million. Small price increases (less than HUF 2.5 million) affected 11% of homes, while 13% of homes saw price rises of more than HUF 5 million. The figures show that developers are increasingly increasing prices in response to rising demand.
Prices per square metre by district
In the light of the above, it is not surprising that the average price of new homes in all districts has now reached HUF 1 million, with the most expensive districts averaging around HUF 3 million.
The most expensive District 2 offers new apartments for 3.18 million forints per square metre, while the second most expensive District 5 also starts at almost HUF 3 million per sqm, with an average of HUF 2.99 million. District 1 came third with HUF 2.89 million, followed by District 12 with HUF 2.86 million.
The average in the most popular district of Buda is just shy of HUF 1.8 million, while in the favourite on the Pest side, in the 13th district, it is HUF 1.65 million.
The cheapest place to buy a new home is currently in the 20th district, where the average price per square metre is around HUF 1 million.
How does this translate into actual house prices?
Thanks to the large floor area, the 2nd district has once again become extremely expensive, with an average of HUF 424 million. The silver medallist District 12 has an average of HUF 325 million and the bronze medallist District 5 HUF 306 million. The cheapest new homes are in the 19th district, where the average price for a new-build property is HUF 67 million.
Despite high prices, the number of homes sold increased in almost all districts. The recovery was strongest in the Outer Pest districts, where the number of homes sold more than doubled from the third to the fourth quarter. This sales figure is a record for the last five years.
Demand was also strong in the 13th district, where nearly twice as many apartments were sold as a quarter earlier, and a new record was set with nearly 1,000 homes changing hands. Inner Pest saw an increase of 54%, District 1 31% and other areas of Buda 15%, so
the increase in sales was mainly on the Pest side.
Demand remained strongest for two-room homes, with 49% of homes sold in this category, up 1 percentage point on this year's average.
Demand for studio apartments also increased, with 15% of all homes sold in the fourth quarter falling into this category. The share of three-room homes among all dwellings purchased fell to 24%, down from 29% in the previous quarter.
The new supply also led to the launch of the developments announced at the end of the year with the delivery in 2027 and 2028. Nearly a quarter of all homes for sale are currently in projects that will be completed more than two years from now.
Most of the vacant homes are in developments to be delivered in 2026, but not far behind is the share to be delivered in 2025. There are still nearly 800 apartments in projects where construction has already been completed, although their number did fall due to high demand.
Cover photo (for illustration purposes only): Getty Images
