Housing in Budapest
2010 statistics by Otthon Centrum and Ingatlan.com show that the average square meter price of apartments in Budapest has dropped below the psychological 350,000 HUF (1310 EUR/m2) threshold. This means the typical price of a studio apartment is around 10 million HUF (37,425 EUR). Note this is a city average, including remote outer districts as well. The average size of the apartments for sale on the market is 67 m2. Therefore the standard apartment sells for 85-90,000 EUR in the Hungarian capital. The difference between the actual sales price and the advertized value can be 10-15%, which leaves room for negotiation. Roughly 1600 new-built apartments were sold in Budapest in 2009. The number has not been so low for decades. The number of unsold apartments in projects which have already been handed over reached a record 3000, climbing to ca. 3800 at the beginning of 2010. Add to this around 3000 more apartments in projects in their final stage of construction, so — good news for new buyers! — there are roughly 7000 apartments to choose from in 2010.
