In recent years the real estate market in Budapest has seen dramatic price increases. The price of newly built flats rose by 13.9 per cent within a year, reaching an average of 3,260 euros per square metre in 2023. Rental prices have also continuously risen: the average monthly rent per square metre increased to 11.3 euros, further exacerbating young people’s housing difficulties. Purchasing an average new build property in Budapest requires 10.4 years of gross average earnings, placing the city in the middle range in European comparison.