Fall in Property Prices Many Have Been Waiting For Begins – Hungary Today

The price of used brick apartments and panels in Budapest fell at the end of last year, Otthon Centrum, a real estate agency told MTI. According to their data, the price of used brick apartments in the capital decreased by 3.5%, while the price of panels decreased by 2.5% in the fourth quarter of last year compared to the previous three months.

The OC explained that in the last three months, the average price of brick apartments in Budapest was 963,000 forints (EUR 2,435) per square meter. District V on the Pest side has remained the most expensive, with an average price per square meter at HUF 1.2 million (EUR 3,035).

It was pointed out that the prices of brick apartments in the capital have developed hectically compared to the third quarter of 2022: in District I on the more expensive Buda side of Budapest, prices have fallen by 8%, while in the IV, V, and XII districts, prices have decreased by more than 10%. However, the latter three districts had the highest price increases in the third quarter of last year.

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The average price per square meter of prefabricated panel flats was HUF 743,000 (EUR 1,880) in the last three months of last year, 2.5% lower than the average for the previous quarter. The only districts to deviate from this were III, IX, where prices fell by 4%, and VIII, where prices per square meter fell by 8%, while a significant price increase of 16% was recorded in District XIII.

But despite the price cuts, buyers are still waiting. According to data from

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