Fewer but pricier homes built at Lake Balaton

The new housing market around Hungary's Lake Balaton is seeing fewer constructions but higher prices, indicating sustained demand for lakeside properties. While price differences between settlements are gradually decreasing, the average price per square meter for new apartments ranges from 1.5 million forints in Fonyód to 2.5 million in Balatonakarattya.

This price convergence is attributed to new projects being built directly on or near the waterfront, leveling the playing field between larger resort towns and smaller villages. "The catching up of smaller Balaton settlements is a clear trend," explained Gábor Soóki-Tóth. "A significant portion of new projects are built directly on or near the waterfront, which increasingly evens out price differences between larger resort towns and smaller settlements."

However, a distinction persists between the eastern and western basins of Lake Balaton. The eastern region, closer to Budapest, has an average asking price exceeding 2 million forints per square meter, while the western basin, further from the capital, is slightly lower. Factors like proximity to the water, the technical specifications, and the service level of a development significantly influence the final price, noted the expert.

The Balaton new-build apartment market remains one of the country's most expensive real estate segments. Although supply is slowly tightening, rising prices signal that the allure of lakeside properties has not diminished.

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A significant portion of new projects are built directly on or near the waterfront, which increasingly evens out price differences between larger resort towns and smaller settlements.