Lower interest rates and the wide range of available subsidies are jointly influencing the Budapest property market, where increased demand is now being reflected in higher prices. “We saw annual price growth in the average square meter price for panel flats, brick apartments and detached houses alike,” Gábor Soóki-Tóth, head of analysis at Otthon Centrum, said, summarizing the capital’s H1 data.

He noted that the average price per sqm stood at HUF 1.33 million for brick apartments, HUF 1.078 million for panel flats, and HUF 810,000 for houses. All three used housing segments saw higher prices than in the same period last year, with the smallest increase seen in detached houses, where prices rose 12.4%. Brick apartments cost 21.8% more than a year earlier, while panel flats jumped 36.2%.

The average price per sqm of brick apartments in condominium buildings reached HUF 1.33 million in Budapest. The most expensive district was District V, where Otthon Centrum measured an average of HUF 1.76 million, followed closely by District I at HUF 1.75 million. District II came in at HUF 1.68 million, and District XIII at HUF 1.65 million.

All inner-city and Buda districts, except District VIII, exceeded the HUF 1 million threshold, with most Buda districts nearing HUF 1.5 million. In Districts VI, IX and XIV, the average was around HUF 1.2 million, while District VIII had the lowest at HUF 972,000. Among outer districts on the Pest side, District IV stood out at HUF 994,000, with others hovering around HUF 900,000.

Brick apartments were cheapest in District XVIII, where the average price was HUF 766,000 per sqm. The current pricing level represents a 21.8% increase compared to the same period last year. Most districts recorded double-digit growth, with only Districts III, IV, XVII and XVIII showing stagnation. In contrast, prices rose more than 30% in Districts I and XIII.

Panel flats averaged HUF 1.077 million per sqm in the first half of the year. The highest prices were seen in District XIII at HUF 1.25 million, followed by District XI at HUF 1.22 million. Most inner-city and Buda housing estates also exceeded the HUF 1 million mark, including Districts III, IV, VIII and XIV, where prices were around HUF 1.1 million. Panel flats could only be purchased for under HUF 1 million in the outer districts of Pest, though price differences there were minimal, with averages ranging between HUF 900,000 and 1 million.

Compared to the same period in 2024, prices per sqm were up 36.2%, a reflection of growing demand for relatively affordable panel flats. Every district saw double-digit increases, with most experiencing 30–40% year-over-year gains. Cheaper housing estates, such as those in Districts XVIII and XX, saw the largest price hikes.

Used detached houses changed hands for an average of HUF 810,000 per sqm in the past six months. Significant disparities remain between Buda and the outer Pest districts. In Buda, average prices exceeded HUF 1 million per sqm, with District III hitting HUF 1.32 million. District XXII was somewhat more affordable at HUF 955,000.

In contrast, outer Pest districts averaged HUF 705,000, with only District XIV reaching the HUF 1 million mark. Southern districts of Pest remained the most affordable, with average prices in District XX at HUF 561,000 and HUF 600,000 in Districts XVIII, XXI and XXIII. Over the past year, prices in this segment rose by 12.4%. While the Pest side saw a 16% increase, Buda saw little change, which analysts attribute to lower demand due to already high prices.

“Location and property condition remain key factors in pricing. Fully renovated properties in good locations consistently sell above the district average for their segment,” Soóki-Tóth noted.