2014 was the first year after the crisis when property market started to grow: property prices and the number of the transactions both increased, mostly in Budapest and in the big cities in the country.
OTP Property Value Index
The OTP Property Value Index first increased in 2014 after the crisis: it reached 84.1 percent of the peak value.
Property Prices
Property prices increased by more than 4 percent in Budapest and by 1 percent in the county seats. The price of apartments of medium price category increased the most.
Number of Transactions
The number of transactions increased in all counties: the most in Békés and Pest County – by 62 and 55 percent – and the least in Bács-Kiskun and Somogy County – by 14 and 16 percent. In Budapest property prices increased in all districts, except from the 8th district: the most in the 20th district – by 117 percent – and the least in the 5th district – by 20 percent.
Most Popular Districts and Property Types
Most apartments were sold in the 13th district; which was followed by the 11th and the 14th district. During the years of the crisis the price of panel apartments decreased the most; but now this type of property can be the winner of the changes. The price of panel apartments increased by 5.9 percent all over the country: these days, such an apartment costs HUF 144 thousand per square meter. In Budapest the price of panel apartments increased by 8 percent: an apartment today costs HUF 181 thousand per square meter.
Average Prices
In 2014 Hungarian properties cost HUF 1 million on average; apartments were bought for HUF 10.8 million and houses for HUF 12.9 million.
Most Expensive Counties and Districts
In the country, apartments cost the most in Győr-Moson-Sopron County and in Budapest in the 5th district: in the latter, apartments were bought for HUF 362 thousand per square meter on average.
