Following the spectacular boom at the end of last year and the beginning of this year, demand in the new-build housing market in Hungary temporarily returned to normal. However, from August, purchases may once again pick up due to the maturity of a government bond and the state-subsidised Home Start loan program. Instead of the 1,000 apartments initially announced at the beginning of the year, Cordia will launch sales of nearly 1,500 homes in 2025, amid record-high buyer interest.
The market for new homes is running at an unprecedented pace this year in the country. In Budapest, the number of newly built homes sold in April–June was 50 percent higher than the quarterly average between 2017 and 2024. In response to strong demand, developers launched sales of nearly 3,000 apartments in the same period, double the average of previous years. Meanwhile, prices also continued to rise: by early July, the gross average price per square meter in Budapest had reached HUF 1.79 million (ca €4557), 15 percent higher than a year earlier.
Meanwhile, Cordia, Hungary’s leading residential developer and part of the Futureal Group, has maintained its market leadership in several areas, including both the number of units sold and the size of its new-build supply.
The company increased its offering by 50 percent this year
“In the second half of August, demand visibly picked up again, and this could be further strengthened in September by the maturity of a government bond. The heightened situation is well reflected in the fact that the number of incoming buyer inquiries week by week is breaking records,” said Áron Görög, Cordia’s Head of Sales.
At the beginning of the year, Cordia planned to bring around 1,000 homes to the market in 2025, but in light of the strong demand, this target has been increased to nearly 1,500. As part of these plans, the company will soon announce further new projects.
Cordia’s portfolio is uniquely diverse, ranging from centrally located studio apartments and one-bedroom homes purchased for rental purposes to suburban family homes and luxury penthouses with panoramic views. A common feature is that buyers can secure their chosen home with just 10 percent of the purchase price, with the remaining 90 percent payable upon handover.
Suburban, downtown, Danube’s riverside
The largest share of the company’s supply is represented by Marina City, built on a 14-hectare car-free riverside in a brownfield area. The project’s third phase launched last year, and its fourth phase is set to begin this autumn. Thanks to the brownfield classification, homes here are available with a 5 percent VAT, refundable upon purchase. Most apartments will offer panoramic views of the Danube and the Buda Hills. The first units will soon reach structural completion, and by the time the phases under construction are handed over, a 1,000 sqm public park will also be completed around the buildings.
As the first phase nears completion, sales have begun for the second phase of Woodland, located in the Millennium Quarter of District IX as well. Among green belt developments, work also continues on Sasad Resort—one of Buda’s most popular residential parks—and Thermal Zugló in District 14. Demand is strong: in the Sasad Resort Sky project launched this spring, 60 percent of the homes have already been sold, leaving only about 40 units available across the developments currently under construction at the site. A special sound barrier covered with dense vegetation has been built next to the park, protecting the entire area and providing a peaceful oasis for future residents, including those of the newly launched Sasad Resort Sungate phase with 133 homes. Ground floors of the buildings also feature retail units for convenient local services. Thermal Zugló’s fifth and final phase, launched this spring, has already seen half of its homes sold, showing that many buyers are eager to secure their last chance to purchase in this suburban residential park.
Cordia has also launched registration for a unique development of more than 200 homes in one of Budapest’s most popular rental locations, the continuation of Corvin Promenade. The next structural phase of the Corvin Innovation Campus office complex is being converted into a residential building, Corvin Campus by Cordia, offering more than 200 high-spec apartments, mainly targeting investors seeking rental opportunities.
Waterfront lifestyle
Cordia’s developments are not limited to Budapest. Registration will soon open for a small-scale residential project in Fonyód, on the southern shore of Lake Balaton. The lakeside development already has a valid building permit, and each apartment will feature panoramic views of the lake and the Badacsony Hills.
This is not Cordia’s only development aimed at those seeking a waterfront lifestyle. Following the completion of its first Spanish project—the Jade Tower in Fuengirola, a luxury complex with 116 apartments—Cordia is also launching a multi-phase project of more than 500 homes on the Costa del Sol, branded 360° by Cordia.
“Thanks to Cordia’s market-leading position and strong, stable partnerships with suppliers and contractors, the company was able to respond flexibly to the surge in buyer demand. We are confident that anyone seeking a high-quality, value-preserving home—whether for personal use or as an investment—will find their ideal property within our wide-ranging portfolio,” added Áron Görög.
