Budapest’s used-home market looks relatively stable when viewed as a whole. Duna House reported that average square-metre prices increased by roughly 1% from spring to summer 2026.
But panel and traditionally built apartments moved in opposite directions.
Panel Prices Are Down More Than 8% From February
Budapest panel apartment prices peaked in February. By July, average square-metre prices were more than 8% below that peak and had fallen to their lowest level since the beginning of the year.
Traditionally built apartments moved the other way. Their average square-metre prices increased from spring into summer and reached their highest level of 2026 in July.
The gap between the two segments also widened. In spring, panel apartments were priced about 11% below traditionally built apartments per square metre. By July, the difference was almost 21%.
Why the Overall Budapest Average Remained Stable
Traditionally built apartments account for roughly four-fifths of Budapest’s used-home market, according to Duna House.
Because they carry much more weight in the data, their rising prices can make the overall Budapest average appear stable even while panel prices are falling.
Péter Szegő, Duna House’s head analyst, said panel apartments react faster to changes in demand because first-time buyers and investors make up a larger share of their buyers.
“Panel property reacts fastest to changes in demand because this is where first-time buyers and investors have the greatest weight.”
Szegő said these buyers have become more cautious, while traditionally built apartments attract a broader group of buyers and therefore have more stable demand.
Panel Sellers Face More Price Pressure
Duna House also reported that buyers of panel apartments have more room to negotiate as prices have fallen. Overpriced panel listings are attracting less interest, making realistic pricing increasingly important for sellers.
Owners of traditionally built apartments are seeing a different price trend. In July, average square-metre prices in this segment reached their highest level of 2026.
Owners should compare their property with its own segment rather than rely on the overall Budapest average, which combines falling panel prices with rising prices for traditionally built apartments.