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Pandemic drives up vacation property prices

Residential

As home price growth was squeezed during the pandemic, prices for getaway homes in Hungary's most popular vacation regions rose in the double digits, data compiled by listings site ingatlan.com show.

Vacation home prices in Gardony, on Lake Velence, about an hour's drive from the capital, now average HUF 655,000 per sqm, up 20% in a year, ingatlan.com said after a review of almost 40,000 property listings.

The price of homes in settlements on the northeastern shore of Lake Balaton rose 35% to HUF 756,000 per sqm, albeit parallel with a 40% decline in supply.

On the southern shore of the lake, home prices increased 20% to HUF 700,000 per sqm.

Vacation home prices around Lake Tisza, in the east of Hungary, also climbed 20%, but homes there are still relatively cheap, at HUF 172,000-179,000 per sqm.

Summer home prices on the Danube Bend, north of Budapest, rose 44%-59%, with listings for properties in settlements such as Zebegény, Nagymaros, and Visegrád reaching HUF 457,000-542,000.

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