After a strong start to the year, demand for new-build apartments in Budapest continues to climb, with residential property developer Cordia projecting that total annual sales will surpass last year’s figures.
In response to the buoyant market, the company has already launched more than 1,000 new units for sale in 2025, with several hundred more expected later this year.
So far this year, nearly 4,000 new apartments have been sold in the capital — double the volume seen during the same period in 2024. Average prices have risen in tandem with demand. The per-square-meter price reached HUF 1.777 million (EUR 4,425) by April, up 6% from December 2024. On the Buda side, prices are nearing HUF 2 mln (EUR 5,000) per sqm, while Pest is approaching HUF 1.7 mln (EUR 4,250).
Cordia reported its best January–April sales figures since 2016, even surpassing the pandemic-era boom of early 2021 by 12%. April was the strongest single month in nearly a decade.
“While the market has since stabilised compared to this extremely high, primarily investment-driven demand, this represents a return to normalcy,” said Áron Görög, Cordia’s sales director. “We continue to see favourable market conditions, and another round of government bond maturities in the fall could further stimulate demand. Overall, we expect developers in Budapest to sell more homes this year than the 7,400 transacted in 2024.”
He added: “The resulting price increases following strong demand should be seen more as a correction. Over the past two years, price growth has lagged behind inflation. Now, in real terms, prices have caught up across both the new and resale markets.”
To meet growing demand, Cordia has already launched five new developments this year and will add more later in 2025. Among the latest is the Corvin Campus project — a 200-unit residential complex being developed from the next phase of the Corvin Innovation Campus, which is currently in shell-and-core condition.
“With the development of the more than 200-unit Corvin Campus, the Futureal Group is flexibly responding to trends in both the office and residential sectors,” said Ágnes Korsós, project director at Futureal Group.
“We expect over 80% of the homes to be purchased for investment purposes. With its proximity to Semmelweis University, Metro Line 3, and Corvin Promenade, this prime location offers rental yields that exceed the Budapest average. The apartment mix has been designed accordingly, with the majority comprising studio and one-bedroom units. Registration is already open, and—as with our other projects—we are offering an attractive payment scheme where buyers can reserve a unit with just 10% upfront and settle the remaining 90% upon handover,” she adds.
The converted building will have three levels of underground parking, a ground floor, and eight additional stories. Amenities include 400 sqm of communal space and a panoramic rooftop terrace of 160 sqm, exclusive to residents. The transformation is being overseen by architecture firm Radius B+S, which also designed the original structure.
“Cities around the world already offer many examples of similar functional conversions, but this is the first such development in Budapest’s inner city,” highlighted Gábor Kovács, chief architect at Cordia.
“Reusing an existing structure contributes to sustainability just as much as the ceiling heating and cooling systems powered by air-to-water heat pumps in the apartments. Since we’re not starting from scratch, buyers will be able to move in—or rent out—their homes much sooner than usual. Thanks to the existing framework, some Corvin Campus homes will feature exceptionally high ceilings, in some cases exceeding three meters,” he added.
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