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Home buyers favor Districts 9, 11 and 13 - Duna House

In the capital, the highest number of new apartments last year was built in District 9, followed by Districts 11 and 12, and yet the highest prices per square meter for new homes are found elsewhere, according to Duna House Barometer.

Budapest home prices per square meter. Darker colors mean higher prices, with the darkest shade denoting prices above HUF 1 mln (illustration: Duna House)

Duna House says that District 13 is poised to become the "winner" in the next few years. The company said that so far this year, the three most popular districts are still on top regarding new home construction.

"In Budapest in 2018, construction works were the most intensive in District 9, where more than 650 apartments were built, but Districts 11 and 13 are also performing outstandingly in terms of both price and amount, according to data from the KSH," says Károly Benedikt, lead analyst at Duna House.

The 2019 first-quarter report of Duna House reveals that while the market is still the most active in these districts, the situation is different when it comes to prices.

"In Districts 1, 2, 6, and 12, the average price per square meter of new apartments exceeds HUF 1 million, but the supply is more restricted," notes Benedikt, adding that in the most popular districts 9, 11, and 13, average prices are in the range of HUF 750,000-800,000 per square meter.

According to the companyʼs data, demand is also concentrated in these latter three districts. Some 20.7% of people who are searching for homes in Budapest (both newly built and older apartments) are looking at District 13, 15% are considering District 11, and about 14% are contemplating buying an apartment in District 9.