The intensity of sales of newly built apartments in Budapest moderated by the end of last year, despite this, no price reduction is expected in this segment this year, where prices per square meter already range from HUF 1 million to HUF 3 million - states the summary of the Eltinga Lakáspiaci Report and Duna House, which they informed MTI in a statement on Tuesday.
According to the analysis, by the end of 2022, more and more people have given up on buying a newly built home, instead looking on the used market. The number of newly built apartments sold in Budapest barely exceeds a thousand per quarter, even though 2,300 apartments changed hands in the first quarter. However, the market did not dry up because the developers brought 2,600 apartments to the market at the end of the year, so the number of vacant apartments increased by about 40 percent.
By the fourth quarter of 2022, there are hardly any districts in the capital left where you can buy a newly built property for less than HUF 1 million per square meter. In the second half of the year, district I was the most expensive, where it reached HUF 2.9 million per square meter of newly built apartments, this was in district II. district followed with a price of 2.7 million square meters.
At the cheapest price of HUF 824 thousand per square meter, the XXIII. district, it was possible to buy a newly built apartment in the capital. The highest traffic is the XIII., IX. and the XI. appeared on the real estate market of the district.
The professional players do not expect a price decrease for the year 2023, and most developers are expected to be forced to raise prices due to the increase in raw material prices and labor costs - they indicated in the analysis.
(Source: autokalauz.co.hu; MTI | Image: pixabay.com)