High-end homes in Budapest
The Hungarian real estate market isn’t showing a strong shift towards euro pricing just yet, according to ELTINGA. Their data highlights that euro pricing is mainly seen in smaller, high-end developments in central locations. The latest Budapest Housing Market Report notes that only six residential projects in the city currently advertise prices in euros or factor in exchange rate changes between the euro and forint. These projects are in sought-after areas of Budapest’s 2, 7, 11, and 12 districts, including Endrődi38 Residence, Limetree Residence, Essence of Gellért, Eötvös12 Villa Park, and Diana Condominium. However, these developments represent just a tiny fraction of the overall new-build housing supply in the city.
What about rentals?
In the Hungarian real estate market, around 15% of rental properties are advertised in euros, while euro pricing is far less common for properties listed for sale, according to Zsuzsa Lipták, managing director of zenga.hu. Among homes for sale in euros, 26% fall between EUR 200,000 and EUR 500,000, while 33% are priced above EUR 500,000—making these two categories 60% of the market. For rentals, 40% are listed at EUR 200–500, with nearly 30% advertised at EUR 1,500 or more.
Investors often calculate in euros, but Hungarian sellers tend to prefer forints, partly due to the complexity of euro transactions and the need for specialised accounts. Some rentals to foreign tenants, paid in euros, remain off the books, contributing to the grey market. The number of euro-priced listings surged in October and November, likely tied to euro exchange rate fluctuations, with high-end properties seeing the most growth.
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Publish date : 2025-01-10 04:34:00
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