Home affordability average for region

Residential

Photo by Fabio Balbi / Shutterstock.com

Hungarians need to work 8.4 years, on average, to buy a new 70 sqm home, according to an annual market survey by consultancy Deloitte, writes gazdasagportal.hu.

The cost of a new 70 sqm home in the Czech Republic is the equivalent of 12.2 times the annual salary, while Poles must work 7.6 years for the same home and Slovakians 10.6 years.

Deloitte put the average home price in Hungary at EUR 1,657 per sqm, below the EUR 2,822 price in the Czech Republic and the EUR 1,941 price in Slovakia, but over the EUR 1,581 price in Poland.

It noted that home prices in Budapest were 133% of the national average and stood at just 77% of the average in Debrecen (225 km east of Budapest), the country's second-biggest city.

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