Russian citizens are increasingly targeting luxury properties in Budapest
German citizens remain the largest group of foreign buyers on Hungary’s real estate market, but Russian buyers are catching up and are increasingly focusing on high-end properties in Budapest. Chinese and Vietnamese investors are also strongly represented among foreign purchasers.
According to the Hungarian Central Statistical Office (KSH), around 6,600 foreign citizens purchased apartments and houses in Hungary last year, with a total value of 309 billion HUF. This accounted for 6.4% of all property transactions, marking an increase compared to the previous year.
German buyers ranked first with approximately 1,369 purchases, followed by Chinese (708), Romanians and Slovaks (671 each), and Vietnamese buyers (329). At the same time, the number of Russian buyers is steadily increasing — in 2024, they purchased around 185 residential properties, slightly more than Ukrainian buyers.
In Budapest, foreign buyers accounted for 7.8% of all transactions, but their purchases represented around 10% of total market value, indicating a strong focus on more expensive properties.
Russian buyers paid the highest average price of 83.5 million HUF, followed closely by Vietnamese (83.4 million HUF) and Chinese buyers (76.9 million HUF). At the lower end were Romanian buyers, with an average purchase price of 16.8 million HUF, as they tend to focus on rural areas.
