Budapest’s real estate market made a strong comeback in 2024, but soaring prices are prompting thousands to pack up and move. According to the Central Statistical Office, over 86,000 people changed homes in and around Budapest last year.
Nearly 17,000 left the capital for nearby Pest County, while 11,000 returned, leading to a net population dip of 6,000 for the city. The majority of moves, nearly 56,000, were intra-city, with residents switching districts within Budapest.
The 13th District (Angyalföld) attracted the highest number of intra-Budapest movers, with over 5,500 people settling there. It was followed by the 11th District (Újbuda) with 4,700 and the 14th District (Zugló) with 4,550.
These districts also attracted a significant portion of new arrivals from outside the capital, particularly Districts III, XI, and XIII, which collectively accounted for 8–9% of all inbound moves. Interestingly, net migration increased the population of central districts like VII, VIII, and IX by 500–550 residents.
Price surges reshape the housing map
The most expensive area remained District V, where average prices for used homes soared from HUF 1.6 million to HUF 2 million per square meter. Conversely, District XXIII was the most affordable, with average prices rising from HUF 693,000 to HUF 803,000 per square meter over the same period.
