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There was a huge movement in the Budapest property market last year. The capital’s population has shrunk after a total of nearly 6,000 more people left than arrived. Nearly 40,000 people moved into the agglomeration and more than 61,000 people moved to another district within the capital, but the number of people who moved within districts also exceeded 46,000, according to CSO data for 2019.
Movements within the capital
- Most of them are XI., XIII. and XIV. the district moved from one district to another and these were also the most popular destinations.
- The biggest advantage is the XVII. came to a district where more than 1,045 more people moved than they were.
- Significant growth was also achieved in III., XIX. and XVI. district as well. The inhabitants of the XXI., III. and XVII. Districts are the most loyal, these districts had the highest proportion of people moving within the district.
These are even pre-epidemic data
The market reacted to housing prices in the capital, which had been decelerating for several years in the second half of last year, turning to the outer districts, which offer prices per square meter lower than those in the interior ”, explains László Balogh, senior economic expert at ingatlan.com. He adds: These figures do not yet include the effects of the coronavirus epidemic, which already significantly changed the composition of demand in the spring. In the coming weeks, it will become clear how the decline in the epidemic situation will affect people’s housing decisions.
The situation is current
The latest analysis from ingatlan.com also shows the sale prices at the beginning of September based on data from more than 39 thousand properties for sale.
- The cheapest district in Budapest is the XXIII, where the owners ask for 476 thousand florins per square meter.
- District V is the most expensive, averaging nearly 1.2 million.
- Among the districts that stood out in terms of movements last year, 808 thousand forints in the 11th, 813 thousand forints in the 13th and Zugló in the 13th district – and they offer square meters of flats for less than 700 thousand florins.
- Among the outer districts, the average price in the 17th century was much lower, amounting to 532 thousand HUF.
(Cover image: Apartment for sale in Budapest. Photo: Jászai Csaba / MTI)
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