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Land prices in Budapest skyrocketing

While building plots are traded for as little as HUF 1,000 per square meter in small settlements, in Budapest the price is around HUF 360-380,000 per sqm, news site mfor.hu reports.

In the counties of Zala (southwest Hungary), Heves (east of Budapest), and Borsod-Abaúj Zemplén (NE of the capital), buyers can find plots of 1,000-1,500 sqm at less than HUF 1,000 per sqm, noted mfor.hu.

Unsurprisingly, the most expensive sites are in Budapest. Due to the scarcity of land, plots suitable for condominium developments are traded at the highest price, sometimes at HUF 380,000 per sqm.

The starting price of land on the outskirts of Budapest intended for family houses is HUF 10,000 per sqm. The equivalent rate in Budafok (just 11 km from the center of the capital) is HUF 40,000, while in Buda it nears HUF 50,000-80,000, mfor.hu says.