A digitised database of Budapest apartments has been created, making it easier to buy and sell flats.
This year, panel apartments have proven to be one of the most sought-after property types. One of the main reasons is their affordability compared to brick-built apartments, being available at 20-30% lower prices, according to data from ingatlan.com, as reported by Világgazdaság.
Average prices for panel apartments
As of the end of June, the average price per square meter for panel apartments in Budapest was HUF 847,000 (EUR 2,155), whereas brick apartments averaged HUF 1.1 million (EUR 2,800) per square meter, showcasing a roughly 30% price advantage for panel apartments in the capital.
Among the major cities with significant panel housing markets, Debrecen’s average panel price was HUF 772,000 (EUR 1,964) per square meter, compared to HUF 940,000 (EUR 2,392) for brick apartments. In Pécs and Miskolc, panel apartments averaged HUF 442,000 and 613,000 (EUR 1,125 and 1,560) per square meter, while brick apartments were priced at HUF 456,000 and 748,000 (EUR 1,160 and 1,900) per square meter, respectively.
Balogh László, the lead economic expert at ingatlan.com, noted that the strong demand for panel apartments is driven not only by their lower prices but also by their typically favourable locations and good transport links.
Buying and selling flats to become easier
Buying and selling panel apartments in Budapest is becoming even simpler. Ingatlan.com has conducted extensive research to obtain and digitise floor plans of panel apartments from the land registry offices. This enables accurate and official floor plans to be added to listings with just a few clicks, providing buyers with precise and reliable information about the properties. After completing the digitisation of Budapest’s panel apartment floor plans, ingatlan.com will next focus on the floor plans of panel apartments in Székesfehérvár and Kecskemét.
Panel apartments in Budapest
The highest number of panel apartments in Budapest can be found in the III. district, with over 35,000 properties. Other top districts include Újpest and Újbuda, with 25,000 and 22,000 panel apartments respectively. The largest housing estate in Budapest is in Békásmegyer, with 17,600 apartments, while the largest on the Pest side is in Újpest, with 15,200 apartments.
The lowest panel buildings are two stories high, found in Újpest and the XVIII. district’s Krepuska Géza estate. The tallest buildings, reaching 15 stories, are located in six housing estates: in the III. district on both the Danube and hill sides of Békásmegyer, in Óbuda, in Kelenföld in the XI. district, in the XIV. district’s Füredi Street housing estate, and in Csepel-Belváros in the XXI. district.