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The study found that in nearly all regional capitals, it now takes longer to save enough to purchase a 50 sqm second-hand apartment when measured against net average wages. At the same time, Budapest remains among the more affordable capitals in the region, with only Bucharest offering lower average prices for comparable properties.
Based on the latest 2025 data, housing price increases in Central and Eastern Europe rank among the fastest in the European Union. Hungary led the bloc with annual growth of 21.2%, while Croatia, Slovakia, and Bulgaria also placed in the top tier with increases between 12% and 16%. Portugal and Spain stood out as exceptions from Western Europe, ranking second and fourth with 19% and 13% growth, respectively.
“The data from Eurostat show that housing prices in peripheral countries are catching up with those in core economies. What is even more notable is that the price gap between regional capitals is also narrowing,” said Balázs László Balogh, chief economic expert at ingatlan.com.
He added that differences in the number of years needed to afford a home across the region are also shrinking, a trend that could slow the pace of price increases in cities such as Budapest going forward.
The analysis, based on comparable second-quarter 2025 data, shows that a 50 sqm second-hand apartment in Budapest costs an average HUF 63.5 million. Based on net average wages, this translates into 9.2 years of income required for purchase, placing the Hungarian capital as the second most affordable in the region.
Bucharest ranks as the cheapest, where a similar property costs the equivalent of less than HUF 41 million and can be purchased from under seven years of average earnings.
In Bratislava and Warsaw, affordability is significantly lower, requiring 10.1 and 10 years of income, respectively. Average prices for comparable apartments stand at around HUF 67.2 million in Bratislava and nearly HUF 73 million in Warsaw.
Prague remains the least affordable capital, where buyers need nearly 11 years of average income to purchase a property valued at more than HUF 98 million.
Compared to a year earlier, the gap between the most and least affordable capitals has narrowed considerably. While previously the difference amounted to roughly a twofold gap in required working years, it has now declined to just over one and a half times.
According to Balogh, this convergence reflects faster price growth in previously cheaper markets, gradually closing the gap with more expensive cities.
As regional differences continue to diminish, this could act as a moderating force on housing price inflation, particularly in markets that have been catching up.
“The most decisive factor for housing price changes remains effective demand, which in Budapest is already close to its limits,” Balogh said. “As a result, we expect a significantly slower pace of price increases in 2026 compared to last year, both in Budapest and nationwide.”
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