Highs and lows of the Hungarian real estate market

Real estate agency Duna House takes a look at the smallest and largest, cheapest and most expensive residences sold in Hungary last year.

The smallest apartment sold in 2018 was a mere eight square meters (86 square feet) situated in the downtown area of the Hungarian capital's 13th district, while the largest was a 800 square meters residence in the northern Komárom-Esztergom county, the agency's highlights show.

In the capital, the cheapest apartment - a 30 square meters flat in the industrial Csepel island - went for a mere HUF 6 million (US$21,142), while the most expensive, a 600 square meters villa in the prestigious 2nd district was sold for HUF 440 million (US$1.55 million). True, the latter has six bedrooms, its own elevator, indoor swimming pool and garage.

The highest price per square meter (HUF 2.1 million or US$7,400) was commanded by a flat in the capital's Castle district - but this one also has a 50 square meter terrace with a magnificent view of the Danube and the rest of Budapest.

The oldest apartment sold was in a 284-year-old building in the historic center of the western Hungarian town of Sopron near the Austrian border.

Turnover on the real estate market was also picking up, with the number of apartments sold up 3 percent in 2018 while average prices rose by 11.8 percent, and the average time on the market was around three months for any given apartment. Duna House analysts expect a similar growth in sales volume this year while prices are expected to increase moderately.

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