Smaller, 40-70 square-meter, one or one-and-a-half-room apartments for HUF 20 million or less are most in demand in Budapest, but larger and more expensive ones are getting more and more popular, too.
More apartments were sold in 2014 than in the previous years, and the average prices and the rate of investors also increased.
Most Popular Apartments in Pest and Buda
According to the data of the Budapest offices of real estate agency OTP Ingatlanpont apartments in the city center continued to be the easiest to sell. The 5th and the 6th district are the most popular, where mostly smaller, newly built or renewed apartments are sought for.Besides apartments in the city center those with excellent traffic opportunities are most in demand. In Buda also 40-70 square-meter apartments are the most popular, but bigger, 100-150 square-meter ones are also sought for. The 2nd and the 11th district are the most popular, followed by the 3rd and the 12th; apartments in brick houses cost HUF 20 million and those in panel blocks cost HUF 10-11 million on average. The 5th district is the most expensive: apartments here cost HUF 339 thousand per square meter; and the 21st district is the cheapest: apartments here cost less than HUF 160 thousand per square meter.
Rate of Investors Increased
The rate of investors increased in both Pest and Buda: they make up 25-30 percent of all the buyers. The main reason of this is that subletting an apartment an annual 4-6 percent net yield is available. Investors are looking for apartments mostly in the city center, close to universities, in the neighborhood of metro line no. 4 and around outer traffic junctions; besides apartments in brick houses those in panel blocks are also popular, since they are cheaper but also easy to sublet.