These are the most popular Hungarian cities on the real estate market

After the Hungarian capital, Debrecen and its surroundings was the second most popular region for property buyers last year. Here is the complete list of the most popular Hungarian cities, including the number of sales, which demonstrates that the real estate market closed a record year in Hungary last year.

In 2021, a total of 154,000 real estate sales were concluded in the country. The most attractive destination in the real estate market was Budapest, followed by the Northern Great Plain region. Here, the second most populated settlement in Hungary,

Debrecen has become a top city which is becoming more and more popular among property buyers.

One of the reasons for this is the BMW plant which is currently under construction and which will create thousands of new jobs in the region.

A total of 3400 sales were made in Debrecen which is the second highest number in Hungary, after Budapest. In addition to Debrecen, Szeged, Miskolc, Nyíregyháza and Szolnok are also increasingly popular among property buyers. As for smaller settlements, mention should be made of Törökszentmiklós, Hajdúszoboszló and Hajdúböszörmény, with 360 to 380 sales on an annual basis – reported by Pénzcentrum.

Back in Debrecen, the town’s popularity among property buyers comes as no surprise, as the soon-to-open BMW factory will create thousands of new jobs. This is why Debrecen is the most expensive city in the region. The average price per square meter of brick apartments sold last year was 1,422 EUR (~531,000 HUF); panel apartments cost 1,192 EUR (~445,000 HUF) per square meter and detached houses 1,071 EUR (~400,000 HUF) – according to analysis by Otthon Centrum.

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For comparison, in the case of apartments in Nyíregyháza, the price per square meter was 950 EUR (~355,000 HUF) for brick apartments and 870 EUR (~325,000 HUF) for panels. Szolnok was slightly cheaper, with 875 EUR (~327,000 HUF) and 750 EUR (~280,000 HUF). Only in the case of second-hand houses a similar price level – 710 EUR (~ 265,000 HUF) per square meter can be seen.

Furthermore, Debrecen is also a market leader in terms of new housing developments.

In figures, construction work has started on 1,058 apartments spread over 45 projects. New apartments here are offered at a median price of 2,460 EUR (~918,000 HUF) per square meter, well above the average price of 1,722 EUR (~643,000 HUF) in the largest Hungarian cities.

As the Hungarian news portal reports, real estate purchases for investment purposes continued to be the dominant trend both in the capital and in the countryside. In Budapest, an average of EUR 135,585 (~50.63 million HUF) was spent on this type of property, while in the countryside, an average of EUR 75,220 (~28.09 million HUF) was spent .

According to Duna House, the real estate market is about to be reshaped. Due to the significant increase in new construction prices, more and more people looking for accommodation are expected to choose second-hand properties or sublets. In this way, they will support investor demand in the rental market.

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Laura T. Thrasher