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Resort Housing is Rapidly Becoming More Expensive In Hungary

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The reason is the investors who moved out of the city.

According to the analysis from the portal Ingatlan.com based on 40,000 ads, prices for resort housing have increased significantly on the lakes Balaton, Velence and Tisa, as well as in the bend of the Danube, writes the publication Hungary Today.

The rise in housing prices in these locations began in the second half of the 2010s, thanks to investors who had previously moved from urban areas to places such as Lake Balaton or the bend of the Danube. Despite the stagnation in the national housing market during the pandemic, holiday home sales continued due to the" quarantine effect", with many interested in residential homes in green areas or by the water.

According to a leading economic expert Ingatlan.com Laszlo Balogh, interest in apartments, houses and holiday homes has increased by 150%, two and a half times since 2016. Five years ago, in the period from January to May, almost 32,000 requests were received, and this year – more than 77,000.

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The most prestigious recreation area in Hungary, lake Balaton, has already "caught up" with Budapest at prices per square meter. Future buyers will have to fork out €2,020 per sq.m to purchase a home here. The sharp increase in prices is due to the fact that on the northern shore of the lake, the supply has decreased by 40%, and on the southern shore, many houses are being built for investment purposes.

On lake Velenze, the average price per square meter was €1,890, which means an increase of 20%. The price increase was similar in the city of Velenec – 17%.

On lake Tisa, prices also increased by 20%. Future buyers will have to pay €500 per sq.m in this region.

Finally, in the area of the Danube bend, prices jumped by 44-59%. In the popular cities of the region, namely Zebegen, Nadiamaros and Visegrad, the cost per square meter ranged from €1,320 to €1,570. This is not surprising, since, according to a real estate expert, this area is also an agglomeration of Budapest.

Also read: Real Estate Maintenance in Hungary
 

Quoting conditions of Prian.info materials

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