Lake Balaton Property Prices Surpass Budapest Purchase Costs
The real estate market around Lake Balaton is booming, with buyers spending more money on property purchases than ever before. According to data from Duna House, the average amount spent on real estate on Lake Balaton this year exceeded the average price in Budapest.
On the southern shore of Lake Balaton, buyers spent an average of HUF 60.9 million, while on the northern shore, the average amount spent was HUF 67.7 million. This significant increase in property prices is attributed to a growing demand for homes in the area.
While prices per square meter are still relatively low compared to other regions, the overall amount spent on property purchases around Lake Balaton is 6 percent above the average in the capital.
Buyers this year spent an average of HUF 64.3 million on homes in the Balaton area, compared to HUF 60.4 million in Budapest. The wide range of properties available on Lake Balaton includes options ranging from HUF 30 million in habitable condition to luxury properties worth over a billion.
Experts predict that prices on the Balaton real estate market will either stagnate or increase at a slower rate than the national average. This is good news for buyers looking to make a purchase in the area.
With a 17 percent price difference between properties on the northern and southern shores, there are currently more affordable options on the southern shore, with an average price of HUF 653,000 per square meter compared to HUF 767,000 on the northern shore.
If you’re considering investing in real estate on Lake Balaton, now might be the perfect time to start your search and take advantage of the current market conditions.
