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New Home Prices Edge Higher in Capital

Residential

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Average new home prices in the capital in the second quarter rose 1.3% on a quarterly basis to HUF 1,582,000/sqm and were up 12.2% compared to the same period last year, real estate broker Otthon Centrum said on Friday, according to a report by state news wire MTI.

Average new home prices in Budapest varied from HUF 932,000/sqm to HUF 3,081,000/sqm, Otthon Centrum chief analyst Gábor Soóki-Tóth said. 

Prices were highest in District V and lowest in District XV, the only district in the capital where the average price was below HUF 1,000,000/sqm.

The number of new homes under construction in Budapest stood at 26,700 in the second quarter, up 2.4pc compared to Q1. The number of housing projects stood at 338, only 1pc higher than in the first quarter.

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