This substantial price gap suggests sellers may benefit from investing in property upgrades before listing.
Expanding funding sources for property modernization, such as regional home renovation programs and energy efficiency initiatives, provide additional incentives for such investments.
In Budapest, the price disparity is most pronounced in studio apartments, where renovated units can sell for up to double the price of those needing renovation.
For example, in District VII, a 40-sqm, one-room apartment may be listed at HUF 36.9 million if in need of renovation, HUF 50 mln in average condition, and HUF 83 mln if fully renovated and furnished.
Similar trends are evident in cities like Győr (120 km west of Budapest by road) and Debrecen (225 km to the east), where upgraded properties command significantly higher prices.
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