Home owners nearby the new subway line have significantly benefited from the development. The biggest winners of the situation were II. János Pál pápa tér (Pope John Paul II Square) and Kálvin square in Pest and Móricz Zsigmond körtér (Zsigmond Móricz Roundabout) in Buda. The highest residential price growth has been measured in these areas according to a recent report.
Residential prices started to increase between 2013 and 2014 in the neighbourhood of the subway stops apart from Újbuda-központ and Rákóczi tér –where price growth was not serious. Between 2014 and 2015 prices kept on rising strongly on the whole, except Szent Gellért square and II. János Pál pápa tér (Pope John Paul II Square). The highest increase was found in Kálvin square, where prices doubled, while on Buda side, in Újbuda-centre they reached 40 percent. There were other areas where significant price increase was measured too, such as around Rákóczi square, Keleti Railway Station, as well as in Bikás park stop and Etele square final destination in district 11.
If we compare average prices in 2015 to that of in 2016 it is clear that residential prices have increased by 15-45 percent – apart from Újbuda-centre and Rákóczi square – in each area of the subway stops and final destinations. It should be noted that price increase can associated just in part with the handover of subway line 4 because due to the recent property market trends there has been a significant general price increase in the rest of the city, also in areas far from the new subway line.
No difference since 2015
"Through the examined 4 years the highest price growth measured was two and half times in II. János Pál pápa square and Kálvin square, but just like in 2013 in 2016 also II. János Pál pápa tér (Pope John Paul II Square) was the cheapest area among the stops of suwbway M4 ", said Gábor Soóki-Tóth, lead real estate analyst. Compared to residential prices in the capital, the dynamics of the increase has been higher in the line of the new subway – mostly in 2015, especially in areas that used to be cheaper. The effect of the new subway was the strongest on residential prices in 2015, since then there has been no verifiable difference.
Residential price growth slows down in 2017
Compared to previous years, residential prices both in the subway M4 area and in the capital as a whole are expected to grow at a lower rate in 2017. This is probably because economic agents have already factored the presence of subway M4 into property market tendencies.