Budapest property prices third fastest-growing in the world

Budapest residential property prices third fastest in the world and fastest in Europe, the Knight Frank Global Residential Index shows.

In the third quarter of 2018, the three cities in the world with the fastest-growing residential prices were Xi'an in China with 20 percent, Ahmedabad in India with 19.6 percent and Budapest with 19 percent.

The index - which compares residential prices in 150 cities around the world - showed that at the other end of the scale, residential prices dropped by 13.2 percent in Turin, 8.3 percent in Tel Aviv and 7.4 percent in Stockholm.

In neighboring countries, residential prices rose by 11.5 percent in the Croatian capital, Zagreb and by 5.6 percent in the Romanian capital, Bucharest.

Hungary's largest real estate agency, Duna House said in a recent market survey that in a regional comparison residential prices in the central areas of the capital were the most affordable in Budapest at US$3,050 per square meter, slightly higher in Warsaw at USS$3,100 but significantly more expensive in Prague (US$5,155) and Vienna (US$7,185).

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