In recent months, Hungary's real estate market has seen a consistent increase in property prices, putting even further strain on potential buyers.

According to data, in the first two weeks of March, the price of used residential properties rose compared to February, with the national average advertisement asking price now standing at 1.198 million HUF per square meter, marking a 3% increase from the previous month.

In Budapest, average asking prices are even higher.

As of early March, properties were offered at an average of 1.46 million HUF per square meter.

This means that with a budget of 40 million HUF, buyers are typically limited to 30-square-meter studio apartments in the capital.

A standard 50-square-meter apartment with two to three rooms is now difficult to find for under 70 million HUF, especially in urban settings.

The official salary statistics for the fourth quarter of 2024 indicate that even with financing, purchasing such properties is becoming increasingly challenging for average earners.

Years ago, property prices of 20 to 30 million HUF were considered low-cost options; however, in the current market, 40 million HUF is the new threshold.

In Budapest, available properties under 40 million HUF are predominantly small, needing renovations.

Data shows that in February to March, only 13.8% of the properties advertised in Budapest fell below this price point, with many requiring significant investment to make them livable.

Zsuzsa Lipták, managing director of a real estate portal, noted that finding an affordable used property or house for under 40 million HUF is possible but requires patience.

Most offerings below 40 million HUF are for renovation-required apartments averaging around 40 square meters, with a few slightly larger, at 48 square meters.

Further renovation costs often push the final price well above the initial budget.

Currently, only 3.1% of these properties are listed in average condition, while around 3.4% are considered refurbished and ready for immediate occupancy.

These typically consist of small 30-33 square meter studio apartments.

The price variability across Budapest’s districts is significant.

More affordable options are primarily available in the VIII, X, XIX, XX, and XXI districts.

Buyers have a better chance of finding properties if their budget is around 55 million HUF, as one-third of the listed properties in Budapest fall within this price range.

However, with a budget of just 25 million HUF, finding an immediately livable apartment in Budapest is virtually impossible.

Regionally, the situation varies more broadly.

In some towns, properties priced at 40 million HUF can secure renovated family homes of 80-90 square meters.

In Baranya County, one-third of used residential properties are advertised below 40 million HUF, allowing for the purchase of an 88-square-meter house or a 45-square-meter apartment in cities such as Pécs.

In Borsod County, properties around 40 million HUF are considered average, with two-thirds of the listings in this price range allowing for the acquisition of 53-square-meter apartments or multi-room houses in Miskolc.

Conversely, cities like Szeged, Győr, and Debrecen reflect a situation akin to Budapest, where smaller studio apartments of average condition are available for 40 million HUF.

In Hajdú-Bihar and Csongrád counties, one-quarter of the listings are priced below 40 million HUF, with the size and condition of available properties varying by locality.

In Szabolcs-Szatmár and Bács-Kiskun counties, a wider range of options exists up to the 40 million HUF threshold, allowing for the purchase of larger apartments and homes even in county seats.

For example, in Kecskemét, properties averaging 46 square meters and homes at 88 square meters can be purchased at this price.

Interestingly, data indicates that Vas County and the city of Szombathely offer the largest living spaces at this price point, with 40 million HUF making available an average of 51 square meters in apartments and 86 square meters in houses.