Building Plot Prices up by 50% in a Year

At the national level, the real estate network Otthon Centrum (OC) has measured a 50% price increase in the Hungarian building plot market in one year.

According to the summary sent to MTI on Wednesday, the average price of building plots increased to HUF 21,500 per square meter last year. In absolute terms, building plots were sold for an average of HUF 40 million, 31% higher than the average price of the previous year.

In the capital, plots are the most expensive, especially in the Buda area, where plots suitable for building a family house cost more than HUF 100,000 per square meter.

Last year's top seller in the agglomeration was Nagykovácsi, with an average price of HUF 62,000, while in Érd and Törökbálint the average price per square meter was HUF 40,000. Further away from the capital, land can be bought for a fraction of this price.

The most expensive city outside the capital is Debrecen, with an average price of HUF 38,000 per square meter, while in Győr or Székesfehérvár, the average price was HUF 9,000. According to the OC, the big difference can only partly be explained by the price difference between the cities, but rather by the location of the plots offered within the city and the degree of buildability. The location on the outskirts of the city, less favorable infrastructure provision or regulations such as limits on the number of dwellings that can be built also have a strong influence on pricing.