After two years of record-breaking activity, Budapest‘s new-build residential market is beginning to lose momentum as demand weakens while developers continue to bring thousands of new apartments to market.
According to the latest Budapest New Housing Value Map published by OTP Bank, just 3,300 newly built apartments were sold during the first half of 2026, a 25% decline compared with the previous six months.
Developers keep building
The slowdown in sales has done little to curb construction activity. Developers launched 5,950 new apartments across 129 residential projects during the first six months of the year, the highest first-half figure recorded in nine years.
After a record 11,400 new homes were introduced to the market in 2025, developers appear to be pressing ahead with projects approved during the recent housing boom. The result is a rapidly expanding stock of unsold properties.
Around 900 completed apartments are now available for immediate purchase, representing a 40% increase in just six months. A further 9,300 homes currently under construction also remain unsold.
District XIII remains the city’s development hub
Budapest‘s District XIII continues to dominate the capital’s residential development pipeline, as it currently offers around 230 completed homes ready for immediate delivery while accounting for approximately 3,300 apartments still under construction.
OTP Bank also expects 3,100 new apartments in the district alone to be completed before the end of 2026, reinforcing its role as Budapest’s largest residential development hotspot.
Overall, around 9,500 new apartments are scheduled for completion across Budapest this year, roughly 2.5 times the volume delivered in 2025. Analysts caution, however, that some projects are likely to be delayed into 2027, as has become common in recent years.
Prices continue to rise
Despite weaker sales, asking prices continue to edge higher. The average asking price for apartments scheduled for delivery in 2027 has reached HUF 1.85 million per square metre (EUR 5.100), while developments due for completion in 2028 are already being marketed at around HUF 1.9 million (EUR 5.230) per square metre.
At the same time, developers are becoming more flexible in negotiations. OTP says buyers are increasingly being offered multi-million-forint discounts, suggesting headline prices are holding firm while effective transaction prices begin to soften.
