Prices for garages and covered parking spaces in the Hungarian capital continue to rise amid strong demand, with average prices in District XII surpassing HUF 10 million, according to a analysis by Otthon Centrum.
Nationally, the average price of garages reached HUF 8.4 million last year, marking a 15.7% increase compared with 2024. Buda districts recorded the highest prices, led by District XII, where buyers paid an average of HUF 10.9 million. In District III, garages sold for an average of HUF 9.34 million, while in District XI the average stood at HUF 8.3 million, according to Gábor Soóki-Tóth, head of analysis at Otthon Centrum.
Prices in central Pest districts were somewhat lower. District XIII recorded the highest average among them at HUF 8.1 million, while garages in District IX averaged HUF 7.1 million.
The differences are largely driven by limited parking availability, particularly in inner-city areas and on the Buda side, where scarcity continues to push prices higher. This trend also affects garages in outer districts, which are often larger and may serve additional functions, such as small workshops. New residential developments are offering increasingly differentiated parking options, with larger units or those equipped with electric vehicle chargers commanding premium prices, Soóki-Tóth added.
The steepest price increases were measured in Buda districts, with prices in District XI rising by 28% year-on-year. In contrast, price growth was more moderate in central areas, with District XIII posting an increase of just 3.8%.
Outside Budapest, demand remains more subdued, partly due to better parking availability. However, prices are still relatively high in some cities. In Kecskemét, average garage prices reached HUF 9.8 million last year, approaching Budapest levels. In Debrecen, the average was HUF 8 million, while Győr and Székesfehérvár both recorded averages of HUF 7.6 million.
Smaller towns saw significantly lower prices. In Tata, garages averaged HUF 3.7 million, while in Komárom they were around HUF 4.8 million.
A key distinction between Budapest and the rest of the country lies in the type of garages available. In the capital, underground garages and tighter parking spaces dominate, while in provincial cities, larger, standalone garages are more common, making direct price comparisons more difficult. Standalone garages typically command higher prices, while covered parking spaces can be up to one-third cheaper.
Prices can also vary significantly within the same city depending on factors such as whether the unit is covered, underground or standalone, as well as its condition and additional features. Extras such as electric vehicle charging capabilities are playing an increasingly important role in pricing, the analysis noted.
