Next, I will take you on a field trip to get a comprehensive understanding of the real estate in Pest, Hungary.
Pest*** has 17 districts, 7 of which are located in the city center. The areas most favored by overseas buyers are Districts 5 and 6.
District 5 Belv?ros-Lip?tv?ros, the heart of Budapest
Average price: ?2,600/sqm
Although this area is small, Belv?ros is considered the main district of Budapest. The most famous landmarks are the Parliament Building, St. Stephen's Cathedral, Vigad? Concert Hall, Kossuth Square and Lajos Square. The inner city is the best choice for homebuyers to invest, and about 90% of Airbnb homes are in this area.
House prices in Belváros are among the highest in the capital. One-bedroom apartments facing St. Stephen's Cathedral and Szabads?gt?r can cost up to €350,000. The quality of properties here is high, with renovated 19th-century buildings offering many spacious apartments with high ceilings, hardwood floors and unique designs. District 5 is also where young people gather as it is close to universities, companies and entertainment venues.
Ter?zv?ros, District 6, luxury and entertainment
Average price: ?1,800/sqm
Ter?zv?ros is the cultural center of Budapest. The Hungarian State Opera, the Small Opera and Musical Theatre, and the Liszt Conservatoire are all located in the district.
Nagymez Street is often compared to Broadway in New York because of its colorful cabaret performances, bars and restaurants.
The most expensive apartment in District 6, priced up to ?450,000, is near Andrássy Avenue. Andrássy Avenue connects Heroes' Square and De?k Ferenc Square and is the Champs Elysées in Budapest and a UNESCO World Heritage Site. The best areas for buying houses in the district are within Andrassy Avenue, Bajcsy-Zsilinszky and Ter?z Korut avenues. Prices range from ￡170,000 for a one-bedroom apartment to ￡2.8 million for a 19th-century three-storey house.
Erzs?betvros, district 7, with bars and synagogue
Average price: ?1,430/sqm
Erzsébetvros is the smallest but smallest in Budapest The most densely populated area. Since the beginning of the 19th century, many Jews have lived here, known as the "Jewish Quarter", and there are many synagogues, including the Nagy Zsinag?ga, the second largest synagogue in the world.
Although the district was considered a less developed area until the 1990s, today it has more bars, restaurants and nightclubs than any other district. Commercial investors have successfully turned the area's disadvantages into profits by renovating dilapidated buildings, making full use of graffiti walls and second-hand market furniture and converting them into "Ruin Taverns".
Apartment prices range from ￡45,000 to ￡170,000, and there are few single-family homes here. Not all apartments are concentrated on the main shopping street Kir?ly Street and in the vicinity of the Gozhdu entertainment district. There are also two universities in the area, so there is always demand for rentals.
J?zsefv?ros, District 8, from poverty to wealth
Average price: ?1,100/sqm
Before the 1980s, J?zsefv? Ros is considered the poorest district in Budapest, but the redevelopment of a large number of historic buildings has changed everything here. More than 5,000 housing units were added to the area between 2001 and 2010, and there are now many new upscale residential areas and renovated historic buildings, streets and squares. Experts predict that house prices in the area will see strong growth in the coming years.
In addition to shops, restaurants and other entertainment venues, there are two sports venues, several libraries, museums, universities, a park (Orczy-kert), and a botanical garden (F?v? szkert) and a large clinic. Prices start from ￡200,000 for houses, ￡120,000 for apartments and ￡230,000 for new or newly renovated apartments in the heart of the area.
District 9 Ferencvóros, a rising star
Average price: ?1,530/sqm
Ferencvóros is now a very attractive investment destination. Because many universities (Semmelweis University, Corvinus University, Central European University, Budapest University of Technology and Economics) are located in this area, landlords benefit a lot from the student rental market. The district is centered on R?day Street and has more than 50 cafes and restaurants, many shops, clubs and art galleries.
Many street events and concerts are held here. The area also has many excellent schools and green belts, making it a great choice for families. New apartments in the district facing the Danube start from ?100,000 to ?170,000 and go up to ?350,000.
District 13, ?Land of Angels?
Average price: ?1,530/sqm
The main neighborhood of District 13, known as the "Land of Angels" in Hungarian, is a quiet and neat area of ??Budapest that is loved by many families. Angyalf?ld has everything you need for life: the largest shopping malls WestEnd and DunaPlaza, cultural centers for all ages, art galleries, cinemas and 6 libraries. The teaching quality of schools in this district can be ranked among the top 10 in the country, including Berzsenyi D?niel Middle School and N?meth L?szl? School.
Margaret Island is the main leisure area for nearby residents and tourists, and is also the most famous and beautiful park in the city. There are also several spa hotels, restaurants, outdoor swimming pools, fountains and Japanese gardens on the island.
The most expensive residential areas in the district are the residential buildings facing the Danube River and St. Stephen's Park, with apartment prices starting from ?170,000-250,000.
Zugl?, district 14, family entertainment and affordable housing
Average price: ?1,200/sqm
Zugl? is the greenest district in Pest. City Park and Széchenyi Baths are located in the district. The city park offers residents a variety of recreational activities and facilities, including a zoo, a botanical garden (F?v?rosi?llat-?s N?v?nykert), a circus (F?v?rosiNagycirkusz), an ancient castle (Vajdahunyadv? ra), as well as many museums and restaurants.
Near the City Park is Heroes Square, where many large-scale events are held. Zugl?'s cleanliness, safety and convenient transportation are popular with foreign citizens and young families.
The price of high-end residences in Zugl? is also very reasonable. The price of a 40-50 square meter apartment near the park can reach ?70,000-100,000, while the price of an independent house can reach ?170,000-450,000.