Last year, 6,600 foreign citizens bought apartments in Hungary worth a total of HUF 309 billion (EUR 624 million), generating 6.4 percent of total turnover, based on data recently published by the Central Statistical Office (KSH) on Thursday. This year may be characterized by duality from the perspective of foreign buyers, as the Home (Otthon) Start program favors Hungarian buyers by supporting domestic demand, while the boom in new housing developments may also attract foreigners.
Based on KSH data, the real estate brokerage network pointed out that in 2024, most buyers will continue to be German, with 1,369 registered buyers on the market, primarily in Western and Southern Transdanubia. The Chinese were in second place with 708 apartments purchased, while the Romanians and Slovaks were in third place with 671 properties each. In addition, 329 Vietnamese bought apartments in Hungary last year, and there is also noticeable demand from Russians, who purchased 185 residential properties in 2024.
It was highlighted that
in Budapest, the proportion of foreign apartment buyers was 7.8 percent, and the total value of their purchases accounted for one-tenth of the turnover, meaning that they purchased properties that were more expensive than average.
Foreign buyers concentrated in the inner districts of Pest, where they accounted for 19 percent of transactions. Chinese and Vietnamese purchases were the most numerous in Budapest, with their total value accounting for 3.9 percent of the total market turnover.
Photo: Pexels
Based on data from KSH, they also noted that Romanian citizens typically purchased apartments in Békés, Hajdú-Bihar, and Szabolcs-Szatmár-Bereg counties, as well as in Budapest.
Of the similar number of Slovak citizens, 34 percent purchased in Borsod-Abaúj-Zemplén county, another 19 percent in Győr-Moson-Sopron county, and 18 percent in the capital.
They reported that the average apartment price was highest among Russians, who also bought mainly in Budapest, at HUF 83.5 million (EUR 168,700), but the Vietnamese were not far behind at 83.4 million (EUR 168,500). The Chinese were in third place with HUF 76.9 million (EUR 155,300). At the other end of the scale were Romanian buyers, who were mainly active in rural areas, with HUF 16.8 million (EUR 33,900), while the average amount spent by Dutch and Belgian buyers also remained below HUF 30 million (EUR 60,600). The same is reflected in the average price per square meter, with Russians buying at an average price of HUF 1.4 million (EUR 2,828/sqm), while Romanians and Dutch buyers paid only HUF 200,000 (around EUR 404/sqm).
Budapest, capital of Hungary. Photo: Pexels
The announcement quoted Dávid Valkó, senior analyst at OTP Ingatlanpont, who said that foreign buyers have been very active in the Hungarian housing market for years, especially in the capital.
The expert believed that this market may show a dual trend in 2025, as on the one hand, the Home Start program supports domestic buyers, and the strengthening of the forint this year could theoretically reduce the proportion of foreigners. On the other hand, thanks to the possibility of becoming a priority national economic investment and the Housing Capital Program, the supply of new apartments in Budapest is set to explode, which could also attract foreign buyers, according to OTP Ingatlanpont.
Via MTI; Featured photo: Pexels
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