Balaton Apartment Prices at Peak: 2.5 Million HUF/m² 😱

The real estate market around Lake Balaton is increasingly becoming the domain of the privileged: the average asking price per square meter for new apartments has reached 2 million forints, while in the most popular locations prices of 2.5 million forints are already being asked. This trend directly affects the daily lives of the lakeside settlements and the future possibilities for vacationers.

Currently, about 3100 new apartments are being built in 75 residential projects in the Balaton-side settlements. Roughly half of these have not yet found a buyer. Compared to the previous quarter, there are 5.1 percent fewer projects running, and the number of apartments under construction has decreased by 7.8 percent. Developers have become more cautious, leading to a gradual narrowing of the supply.

The largest center remains Siófok: here 709 apartments are being built in 18 projects, which represents nearly a quarter of the total Balaton supply. However, due to waterfront restrictions, it is becoming increasingly difficult to launch new investments, which fuels further price increases.

This process is also noticeable for locals: due to the high prices, many find it harder to find affordable housing near the lake, while for vacationers and investors the existing supply is becoming increasingly valuable. 🌊🏠 With stable demand, the Balaton real estate market is therefore slowly but surely transforming.

Source: telex.hu