Budapest

1. Thermal Baths: Budapest is known as the "City of Spas" due to its numerous thermal baths. The city sits on a network of over 120 hot springs, and many of its baths have been used for centuries, offering unique experiences that combine relaxation and historical architecture. 2. The Ruin Bars: Budapest is home to a unique nightlife scene featuring ruin bars—abandoned buildings and courtyards transformed into eclectic bars and social spaces. These venues often showcase a mix of art, culture, and a vibrant atmosphere, making them a must-visit for those looking to experience the city's alternative scene. 3. Buda Castle’s Labyrinth: Beneath Buda Castle lies a labyrinth of caves and tunnels that date back centuries. These underground passages have been used for various purposes over time, including as a refuge during wars. Today, parts of the labyrinth are open to the public and feature exhibitions and events, providing a glimpse into the city's mysterious past.

The Budapest housing market is experiencing significant growth, with annual price increases of 6-17% and a 36% rise in transaction volumes. The average purchase price per square meter ranges from €2,800 to €3,100. The rental market is also thriving, with yields between 4.8% and 5.4%, though slightly declining. The city's housing supply remains tight, particularly for new builds, giving sellers strong negotiating power. Budapest has a relatively low homeownership rate compared to other European cities, with a significant portion of residents renting. However, specific percentages for renters versus homeowners are not readily available. Public housing in Budapest plays a limited role due to the extensive privatization of public housing in the early 1990s. Social housing and public housing are not the same; social housing is focused on providing affordable units for low-income families, while public housing refers to any housing owned by the state. The city is working to expand the social housing sector by repurposing unused buildings and implementing rent subsidy programs for homeless households. Despite these efforts, affordable housing remains scarce, and the city relies heavily on private real estate. Rent prices in Budapest vary, but there is no recent data specifying the exact median price per square meter for renting. Buying prices are significantly higher than renting, reflecting the strong demand and limited supply.

Budapest faces an escalating housing crisis marked by record price growth and widespread affordability issues. By mid-2025, average residential property prices have surged nearly 19% in a year, and now stand at about €185,832 for an average home. Some properties, particularly new builds, are priced as high as €4,000 per square meter. Despite a surplus of homes—there are 161,000 unoccupied units in the city—many are unsuitable or in poor condition, making them inaccessible to those in need. Investors, not residents, have purchased 30-50% of new Budapest homes in recent years, intensifying competition and further driving up prices. Meanwhile, the share of affordable social housing is extremely low: only around 3% of Budapest’s housing stock is municipally-owned rental, and the overall rental sector is tight and shrinking. This leaves the city with a highly ownership-centric market and few safety nets for vulnerable groups. The crisis particularly affects young people, low-income families, and the homeless, who cannot access affordable homes as prices outpace incomes, and rental options remain limited. Homelessness has become a visible symptom of the shortage of affordable housing and the near-complete privatization of the city’s public housing since the 1990s. With few new homes built and regulations in flux, Budapest’s housing insecurity continues to worsen, impacting the city’s social fabric and long-term inclusiveness.

Budapest's current city administration is actively addressing the issue of affordable and sustainable housing through several initiatives. The city aims to increase the supply of affordable housing and make it more accessible by repurposing unused public buildings into social housing. Programs like the AHA Budapest project focus on transforming non-residential buildings into energy-efficient homes and implementing early warning systems to support households at risk of energy poverty and housing exclusion. Recent targets include expanding the affordable housing sector to reach levels comparable to other European cities. The city is advocating for government support and the use of EU funds to finance housing projects. Additionally, stricter regulations on short-term rentals like Airbnb are being enforced to reduce the strain on the local housing market. These measures aim to address the housing crisis by increasing the availability of affordable housing options and improving energy efficiency. The "Home, for Everyone" strategy emphasizes the prevention of homelessness and the provision of affordable housing, with a focus on social integration. The city is also exploring new housing models and seeking EU funding to renovate existing housing stock and support social services.

A lakásszövetkezetek Budapesten történelmi jelentőséggel bírnak, 1990 előtt a lakásépítés meghatározó szereplői voltak, de a rendszerváltás után visszaszorultak, és mára részarányuk az összes városi lakásállományból egyértelműen marginális. Pontos arányuk Budapesten a legfrissebb adatok szerint nem éri el a 10%-ot, és nem jelentős bővülés, hanem inkább stagnálás vagy lassú csökkenés jellemzi a területet. A jelenlegi fővárosi lakáspiaci helyzetben a hangsúly a társasházak és lakásszövetkezetek meglévő épületállományának felújításán, energetikai korszerűsítésén van. Több kerületi önkormányzat, például a XIX. és az I. kerület, rendszeresen ír ki pályázatokat lakásszövetkezetek számára kamatmentes, visszatérítendő, vagy vissza nem térítendő támogatásokra, amelyek célja a közös tulajdonban lévő épületrészek korszerűsítése és zöldfelületek fejlesztése. Az új, alternatív lakásszövetkezeti vagy szolidáris lakhatási modellek térnyerése egyelőre marginális szinten van, de az önkormányzati pályázatok, valamint bizonyos zöldterület- vagy energetikai fejlesztési programok révén, némi támogatást kapnak. A lakásárak emelkedése és a szűk kínálat miatt az önkormányzatok ösztönzik a meglévő állomány megújítását, ám közvetlenül az új típusú lakásszövetkezeti lakásépítést kevéssé támogatják célzott programokkal. Az ágazat növekedését többnyire az EU-s vagy állami fejlesztési forrásokhoz kötött pályázatok és helyi felújítási programok határozzák meg.