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In summer 2020, Budapest’s housing prices continued to rise, with notable differences across districts—outer neighborhoods emerged as promising alternatives.
Summer Price Movements in the Budapest Real Estate Market
During the summer of 2020, property prices in Budapest continued to rise, though the rate of increase varied significantly by district. While overall demand remained strong, the unique characteristics, developments, and market conditions of different areas added nuance to the general trend.
Downtown: Stable but Expensive
Districts V, VI, and VII still command high prices due to their central location, excellent public transport, and proximity to cultural and business life. Premium properties and renovated historic buildings remain attractive to both investors and buyers. However, the pace of price growth is slowing, as the high costs are starting to deter some potential buyers.
Buda: Green Spaces and Family-Friendly Living
Districts XII, II, and III saw increased interest during the summer months in quieter, greener homes. Prices for larger, family-friendly properties rose more sharply here, driven by growing demand from home-seekers and remote workers.
Outer Districts: Better Value for Money
Districts XI, XXI, and XVIII experienced more moderate price increases, yet they remain attractive in terms of value for money. Ongoing infrastructure improvements and new developments are steadily boosting the appeal of these areas, pointing toward further price growth in the long term.
Why Are Prices So Different by District?
Several factors drive the variation: transportation links, educational and recreational amenities, property conditions, and development plans all influence demand. While inner districts maintain high but stable prices, outer districts show more dynamic growth as they catch up.
Summary
The price trends in Budapest’s summer 2020 housing market reflect the city’s diversity. While overall prices are rising, the pace and opportunities vary by district: the premium segment offers stability, while outer areas present attractive, evolving alternatives due to development and affordability.
