Hungarian Real Estate Prices Rose the Steepest in the EU
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Loading... - Liisa Turunen
- 20 Sep 2022
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There are soaring real estate prices in Hungary, according to the data of the Central Statistics Office (KSH). In the first quarter of 2022, real estate prices continued to rise: newly built flats cost 19 percent more while used ones cost 20 percent more than a year before. At the same time, according to Eurostat data, Hungary had the steepest price increase compared to the average price in 2015 among EU member states.
During the last seven years, the Czech Republic is the other European country where real estate prices increased the most. All in all, in the 27 Member States of the European Union, the average price increased by 45 percent.
Regarding the Hungarian market, the hilly districts of Buda in the capital were the most expensive. The average price here rose to HUF 72.9 million (EUR 185,000) from HUF 66 million (EUR 167,000) a year earlier.
If we look at rural cities, prices per square meter increased at a higher rate than in the capital.
The highest prices appeared in Székesfehérvár, 70 kilometers West from Budapest, in GyÅ‘r, which is close to the Austrian border, and in Debrecen, in the Eastern part of Hungary. These rural big cities are all county capitals, a fact that contribute to the prices. Read More...
