26 January, 2021

The ad prices of apartments are public, but what are the actual sales prices?

As I received the above question many times I thought to give you a little insight into the prices at which flats are actually sold. It will help you to know the REALISTIC VALUE of your property and have realistic expectations.

In 2020 the average advertisement prices became very far from the sales prices which are actually paid by the buyers.

Thousands of apartments are for sale for a year and when you browse on the market to find apartments which can be a benchmark for your property, you most likely view these ads. Obviously these prices are not relevant as they are not market prices. Your price should not be based on them if you intend to sell your apartment in the next 3 months.

So let’s talk about exact figures and pick apartments in different areas of the city center.

In the best part of DISTRICT 13, in the very much sought after Újlipótváros, a 74 sqm, spacious 1 bedroom apartment with the possiblity to renovate it into a 2 bedroom flat on the 4th floor of a good quality classical building with lift was sold at 658,000 HUF/SQM.

In DISTRICT 6, 64 sqm 1 bedroom apartment in need of renovation was bought at 781,000 HUF/SQM in an exclusive building built 10 years ago with swimming pool, fittness room, reception and restaurant.

In DISTRICT 9, only one corner from district 5, right next to the big market hall visited by all tourists, a 49 sqm large, unrenovated studio flat with view to a lovely square on the 3rd floor of a beautiful classical building without lift and in need of some renovation was sold at 836,000 HUF/SQM. In the middle of the district, a 5th floor studio apartment in a 15 year old building with french balcony and park view was sold 895,000 HUF/SQM.

In the middle of DISTRICT 7, apartments in good condition but with some drawbacks like electric heating or courtyard view were sold at 560,000 and 570,000 HUF/SQM. Completely new flats with large terrace in the same district were sold at 900-1,000,000 HUF/SQM.

These are just examples which hope to give you some help. Naturally a property valuation is more complex than just looking at prices of other flats in the area. Prices are affected by lots of parameters. If you seek for professional advice, please do not hesitate to get in contact with me for a FREE VALUATION.