Demand for higher-priced residential properties in Hungary is shifting away from Budapest towards its surrounding agglomeration, according to first-half transaction data from Duna House. The share of properties priced above HUF 100 million sold in Budapest fell from 57% to 48% over one year, while Pest county's share rose from 24% to 33%.
The price gap between the two areas explains the trend. In Budapest, purchases above HUF 100 million typically target flats of 85 to 90 sqm at around HUF 1.6 million per sqm. In Pest county, the same budget reaches an average family house of approximately 160 sqm at around HUF 850,000 per sqm, meaning buyers can obtain nearly one and a half times the floor area outside the city limits.
"The shift in demand towards the agglomeration is not new, but in the market for higher-priced properties the trend is now more pronounced," said Péter Szegő, senior analyst at Duna House. "Those buying above HUF 100 million typically need more space, and at Budapest prices that is harder to afford, but in the agglomeration the same sum covers a larger house and garden within commuting distance."
The pattern follows longer-term migration data: according to the Hungarian Central Statistical Office, Pest county was one of the largest domestic migration beneficiaries in 2025, while Budapest's migration balance remained negative. Demand for higher-value properties is concentrated in a handful of agglomeration settlements, with Érd recording the most transactions above HUF 100 million in Pest county, followed by Szentendre, Budakeszi, Vác, Diósd and Vecsés.
The outward shift is most pronounced in the HUF 100 to 300 million price band. The market for properties above HUF 300 million remains tied predominantly to a few Budapest districts, including the 2nd district and Rózsadomb, the 12th district, the 5th district inner city and Lipótváros, as well as the Castle Quarter in the 1st district and new-build riverside developments in the 13th district, where location itself underpins values.
