Average asking prices for new homes in Budapest have surpassed HUF 2 million per square meter for the first time, reaching HUF 2.028 million/sqm in the first quarter of 2026, a 1.6% increase from the prior quarter and 9.9% higher than a year earlier, according to Otthon Centrum data.
Premium segments have pushed even higher, with some districts now averaging above HUF 3.7 million/sqm. Gábor Soóki-Tóth, head of analysis at Otthon Centrum, said the HUF 2 million level has become a benchmark rather than a ceiling across much of the market.
Developers have responded with robust activity, around 31,500 homes are currently under construction across 373 projects, the highest pipeline in five years, but rising construction costs, land prices and financing conditions have kept upward pressure on asking prices intact.
Premium districts pull away
Prices remain steepest in Budapest’s central and Buda hillside districts. District V leads at HUF 3.74 million/sqm, followed closely by District II at HUF 3.7 million and District XII at HUF 3.57 million, with District I also clearing HUF 3 million/sqm.
Inner-city and Buda districts have largely normalized above the HUF 2 million mark, with District VI at HUF 2.5 million, District VII at HUF 2.45 million, and Districts III, XI and XIII all hovering around HUF 2.1 million/sqm. Sub-HUF 2 million new homes are increasingly scarce in well-connected areas, limited mainly to District XXII on the Buda side and Districts VIII and IX on the Pest side.
Supply activity concentrates
Development remains geographically focused. District XIII dominates with 76 projects and about 10,100 homes under construction, while District XI ranks second with 49 projects and 6,600 units. Districts XIV and IX also figure prominently in both project counts and unit pipelines.
Outer Pest districts trade at lower levels but show the same upward drift, typically between HUF 1.1 million and HUF 1.8 million/sqm. District XVI posted the area’s lowest average at HUF 1.1 million/sqm, while District XIV’s HUF 1.79 million reading puts it within striking distance of the psychological HUF 2 million threshold.
Q1 2026 price leaders:
| District | Avg asking price (HUF/sqm) |
|---|---|
| V | 3.74m |
| II | 3.7m |
| XII | 3.57m |
| VI | 2.5m |
| City avg | 2.028m |
