The Most Wanted Properties in Budapest
Spring is here, spring is here,
The flowers, the trees,
The birds and the bees.
Spring is here, spring is here,
Everything is in bloom.
- as goes the popular children song, but there has been a BOOM TOO IN THE MARKET OF BALCONY APARTMENTS. According to statistics with the arrival of spring there has been a growing interest in the apartments with balconies or terraces. Moreover, this interest has been gradually increasing since 2012. Real estate developers have also answered these customer needs. More and more apartments with balconies or terraces have been built or are planned to be built. In this series we provide a brief overview of the market of balcony apartments in Budapest.
Balcony Pros:
- increased space
- place to relax; to sit, to read, to eat or to have a nap outside
- controlled playground for children in the fresh air
- a “green” provision for people with green fingers inside the city
- drying clothes, storing bikes etc.
- covering and protection for the windows
- reducing the noise
- more natural light in the apartment
- energy-saving effects: in summer it serves as blades, protects the frontage of the apartment from wind
Types and Percentage of Balcony Apartments in Budapest
- classical houses with large headroom: 19%
- residential buildings: 31%
- older brick town apartments: more than 48%
- 5-10 years old, recent residential buildings: 60%
- Newly built or building projects under construction: 80-100%
The Size of the Balconies in Budapest:
- blocks of flats: 3m²
- multi-household buildings:7m²
- family houses: 14m²
Beside the growing amount of balconies there has been a significant increase in balcony size as well. Size can greatly vary according to regions. The size of balconies and terraces in Buda are the biggest.
In the next part we will examine why balcony apartments are considered as huge business opportunities in real estate developments.
