Investing in Real Estate in Veszprém: The Complete Guide to Understanding the Market

Published on April 14, 2026 and written by Cyril Jarnias

Nestled among green hills and close to Lake Balaton, Veszprém combines several assets rarely found in a medium-sized city: exceptional heritage, a genuinely dynamic economy, ambitious infrastructure projects, and property prices still lower than those in Budapest. For an investor, local or foreign, the market now deserves serious consideration.

A real estate market more expensive than the region, but still accessible

Veszprém is located in the Central Transdanubia region, one of the areas where prices are rising the fastest in Hungary. Yet the figures show that the city remains competitive compared to major metropolitan areas and towns directly on the shores of Lake Balaton.

The key indicator is the average price per square meter.

In other words, Veszprém is more expensive than the regional average, but overall less costly than the country as a whole based on the national average price. The city clearly stands out as a sought-after regional center, without having reached saturation yet.

In euros, the hierarchy is clear: major centers like Budapest or certain seaside resorts command significantly higher prices, while Veszprém remains in an “intermediate” range.

For an investor seeking a balance between appreciation potential, quality of life, and budget, Veszprém therefore ticks several boxes.

Who is selling what, and at what price?

The profile of the properties listed for sale in the city is quite clear: houses dominate, brick is king, and the sizes are rather generous.

With an average size of 123 m² and a median price around 79.8 million forints, it’s clear that the market is not limited to small investor units: Veszprém remains a city of family homes, with a growing apartment segment, especially in modern areas like Jutasi út or the university district.

Apartments vs houses: very different price levels

Data in square feet may seem non-intuitive to a French-speaking investor, but they clearly highlight the gap between apartments and houses. Converting them reveals the appreciation profile.

In practice, this means that the square meter for apartments costs significantly more than for houses, a classic pattern in university and tourist cities where rental demand for small and medium-sized units is strong.

When broken down by number of rooms, the picture becomes even clearer for apartments:

Two-bedroom apartments peak in price per square foot, followed by three-bedroom units, reflecting the market’s appetite for these “liquid” formats: easy to rent, easy to sell, suitable for students, young professionals, and small households alike.

For houses, the structure is more contrasted:

Larger houses show a median price per square foot significantly higher, a sign that high-end or very spacious properties are positioned in a more patrimonial segment than purely for rental income.

Very strong price disparities depending on the street

Another particularity of the local market: price differences per square meter can be spectacular depending on the street. Data from the Hungarian Central Statistical Office (KSH) cites certain streets where transactions occurred at surprisingly low levels.

These extremely low amounts, observed in isolated sales, are obviously not representative of the general market (which averages around 770,000 Ft/m²), but they show two interesting things for an investor:

A market in strong growth since 2022

The available historical figures confirm that Veszprém has experienced a marked catch-up phase in recent years.

In 2022, in actual signed transactions:

– second-hand brick apartments sold for an average of 693,296 Ft/m²;

– panel apartments (type “panel”) around 580,200 Ft/m²;

– single-family houses showed an average price of 541,114 Ft/m².

This local rise is part of an even more impressive national context: since 2015, real estate prices have more than tripled in Hungary, and the national house price index continues to grow at double-digit rates, with +18.3% year-over-year in the second quarter of 2025.

In other words, Veszprém follows, or even accompanies, the national trend of price increases, but remains in absolute value below the most strained markets.

Salaries, purchasing power, and price-to-income ratio

The appeal of an investment doesn’t depend solely on prices: the solvency of the local population plays a key role, especially for an investor targeting long-term rental to city households.

In Veszprém, the average net monthly salary after taxes reaches around 400,000 Ft, compared to 320,000 Ft in previous data, indicating a notable progression in income.

– +26% for a 1-bedroom apartment in the center;

– +26.3% for a 1-bedroom on the outskirts;

– +16.5% for a 3-bedroom in the center;

– +9.3% for a 3-bedroom outside the center.

The price-to-income ratio gives a first order of magnitude: in Veszprém, it is estimated at 11.72. This means the price of a home represents the equivalent of just under 12 years of average net salary, indicating a market already strained for residents, but still far from the situation in some European capitals.

Rent, gross yield, and rental market dynamics

The rental level in Veszprém reflects this intermediate positioning: more expensive than the regional average, but less than Budapest.

The data for long-term rentals is instructive.

Older series showed significantly lower rents (165,000 Ft for a 1-bedroom in the center, 200,000 Ft for a 3-bedroom): we can see that rents have progressed in a few years, even if the increase remains more moderate than that of purchase prices.

At the national level, average gross yields on apartments are around 5%, with a usual range of 3.5 to 8% depending on cities and neighborhoods. In Veszprém, price-to-rent ratios give a finer estimate:

– estimated gross yield in the center: 3.41%;

– estimated gross yield outside the center: 4.59%.

National rental market: a changing environment

To put Veszprém in the context of the country:

– rents increased by about 9.3% nationally in 2024;

– between 2010 and 2024, rent indices rose by 108%;

– in 2025, the increase slowed, around 5% year-over-year, with even occasional decreases in the fall before a slight rebound at the end of 2025.

The rent-to-price ratio, however, remains favorable to the investor in the medium term: rents continue to follow the rise in prices, even if the gap has tightened a bit as property values soared.

Short-term rentals and Airbnb in Veszprém: a very seasonal niche market

Alongside classic rentals, Veszprém is developing a small market for short-term tourist accommodation, driven by its status as the “City of Queens”, its medieval heritage, its zoo, festivals, and especially its proximity to Lake Balaton.

Data from Airbnb-type analyses show a very specific reality:

The dependence on seasonality is extremely marked. In a typical year:

– the high season (May, July, August) generates average revenues around $1,244 per month, with average occupancy close to 38% and rates around $93 per night;

– the low season (January, February, September) drops to about $606 in monthly revenue, with only 25% occupancy and an ADR of about $83.

– revenues can reach up to $1,246;

– occupancy of about 44%;

– an ADR close to $95.

The conclusion for an investor is twofold:

– revenue potential is real for well-positioned properties (historic center, proximity to the castle, zoo, or cultural district) and managed professionally;

– but the market is narrow (about sixty listings) and very sensitive to the season, which requires reasoning over a full year, including the off-peak months.

The structure of the supply, mostly entire homes for 4 people, also confirms that the typical investment is based on small, well-located apartments, easily rentable to families or couples on cultural or lakeside stays.

Which neighborhoods to invest in Veszprém?

To understand where the opportunities lie, one must consider both the purchase price, rental appeal (long and short term), and quality of life. Several neighborhoods clearly stand out.

City Center / Old Town (Belváros, Káptalandomb, castle)

The historic center concentrates the heritage (castle, Fire Tower, St. Michael’s Cathedral), main museums, cafes, cultural events, and part of the “cultural district” defined by the city.

The advantages for an investor are obvious:

– solid demand from tourists, especially for short stays;

– strong attractiveness for young professionals and executives seeking a pleasant urban setting;

– scarcity of quality supply in historic buildings.

On the other hand:

– prices per square meter are among the highest in the city (approx. 2,300 €/m² in the center);

– parking is difficult;

– noise and constant activity may deter some residential clientele.

For a patrimonial strategy or one focused on short-term rentals, the center remains the number one target. Airbnb data also shows that the best yields are concentrated in these highly touristic areas.

Jutasi út area / modernized large housing estates

The Jutasi út area, resulting from a vast housing program starting in the 1970s, is today one of the main residential complexes in Veszprém. It features:

– modernized apartment blocks;

– renovated public spaces (parks, squares);

– daily services (schools, shops, cultural facilities like Agóra).

– the clientele is mostly local, families, middle classes;

– rents remain decent relative to acquisition cost, creating higher gross yields than in the old town.

The limitations are mainly due to density, lack of parking, and an architectural image sometimes outdated, despite requalification efforts.

University district

The presence of the University of Veszprém (University of Pannonia) makes the city an animated student hub. Around the campus, demand for small units (studios, 1–2 room apartments) is structurally strong, driven by:

– Hungarian students;

– international students;

– university staff.

Papod / hillside areas and green neighborhoods (Veszprémvölgy, Cholnokyváros, Dózsaváros)

Hillside areas like Papod, or green neighborhoods near the Veszprém valley (Veszprémvölgy), appeal to families seeking a calm, natural environment. They feature:

– small lots, houses with gardens;

– beautiful views and a residential atmosphere;

– more limited access to public transport.

These neighborhoods are better suited for a long-term buy-to-sell strategy for capital appreciation, or for rental to stable households. Rents there are generally a bit lower than in the center, but the risk of vacancy is reduced if the property is of good quality.

Outskirts and communes around Lake Balaton

Even though Veszprém is not directly on the shores of Lake Balaton, proximity to Balatonfüred, Tihany or other lakeside resorts is a strategic asset. House prices in the Balatonfüred district, for example, reach about 1,741,604 Ft/m², far higher than in the city itself, despite a recent slight decline (-7%).

Investing in Veszprém thus allows one to capture some of the demand related to Lake Balaton (seasonal visitors, tourism service providers, sector employees) without paying the high price of lakeside frontage.

Infrastructure, local economy, and appreciation prospects

Beyond current figures, the key question for an investor is: is the city developing in a way to support continued real estate value appreciation? Available data on the local economy and infrastructure projects rather answer affirmatively.

A service economy, but with a solid industrial core

Veszprém is primarily a service center and administrative hub, linked to its status as a county seat. But industry plays a major role:

– Continental employs over 4,000 people on site;

– Valeo exceeds 2,000 employees;

– Jost Hungária completes this industrial pole, with nearly 340 employees.

At the county level, more than half of industrial jobs are concentrated in three segments: automotive, metallurgy, and materials (plastics, rubber, construction).

Tourism and culture reinforce this base, driven by:

– proximity to Lake Balaton;

– Veszprém Zoo;

– cultural events, amplified by the title of European Capital of Culture 2023.

Macro-economic data and employment

Economic indicators point to a city in growth, even if it is not part of the group of Hungary’s most powerful industrial metropolises:

This labor market tightness translates into a regular increase in salaries, supporting households’ ability to pay higher rents and access homeownership.

Demographics: a point to watch

The downside of this dynamic is demographics. The city’s population is declining:

– about 63,867 inhabitants in 1990;

– 55,910 in the 2022 census;

– estimated at 55,118 in 2025.

The county itself shows a population decline over several decades. The explanation lies in two phenomena:

For an investor, this trend requires focusing on segments supported by demand drivers independent of local demography alone: students, tourism, employees of large companies, commuters, etc. This is precisely what Veszprém offers today.

Massive infrastructure projects

The planned or ongoing public investments in Veszprém are considerable and touch on all dimensions that matter for real estate value: accessibility, facilities, urban attractiveness.

Among the most significant:

These public investments, funded partly through a joint effort by the state and the city (whose old debt was taken over by the state), create a very favorable environment for real estate appreciation in the medium and long term.

Urban strategies: green city and smart city

Veszprém is not just piling up projects: the municipality pursues a strategic vision structured around several documents:

– green surface strategy, updated in 2024;

– “Green-Blue infrastructure” plan 2026–2031, focused on biodiversity, stormwater management, and green spaces;

– “Smart City” strategy 2024–2030;

– sustainable urban development (SUD) strategy 2021–2027;

– goal “Veszprém carbon neutral 2030”.

The share of green spaces is already high, with large parks (zoo, Gulyadomb, historic parks) and about ten protected areas. Continuing these policies reinforces the image of a pleasant city to live in, which, in the long run, is reflected in prices.

Legal and tax framework: what a foreign investor needs to know

Investing in real estate in Veszprém requires mastering the Hungarian framework, which has some specificities but remains generally favorable to the investor.

Purchase rights for foreigners

The basic principle is as follows:

– citizens of the EU, EEA (Norway, Liechtenstein, Iceland) and Switzerland can purchase residential properties without a specific permit;

– nationals of third countries (UK, USA, etc.) must obtain an acquisition permit issued by the county government office, under Decree 251/2014 and Act LXXVIII/1993.

This permit:

– requires a file (preliminary contract, identity proof, criminal record extract, land registry extract, etc.);

– generally costs 50,000–65,000 Ft in administrative fees per property (with a reduced fee in a few cases);

– is processed in about 45 to 90 days, with consultation of several authorities;

– can be refused if contrary to public or communal interest.

Agricultural or forest land is virtually inaccessible to foreigners (including Europeans), but residential and commercial properties are in practice open without foreign ownership quotas.

Acquisition costs

The costs to expect when purchasing a property in Veszprém are of several types:

– transfer tax: 4% of the property value (then 2% beyond one billion forints);

– attorney fees: 0.5 to 1.5% of the price, plus VAT (27%);

– land registry registration: on the order of 6,000 to 10,600 Ft;

– possible valuation appraisal: 200–500 €;

– various notary fees (modest), certified translation of foreign documents, etc.

In the long term, there is no generalized national property tax in Hungary. However, some tourist communes around Lake Balaton apply an annual tax per m² (2–3 €/m²), as well as tourist taxes for seasonal rentals.

Taxation of rental income

Rental income is subject to Hungarian personal income tax (15% flat rate) for individuals:

– either on 90% of collected rent (a fictitious deduction of 10% without supporting documents);

– or on actual profit (rent – justified expenses).

Key points:

– for non-residents, only the portion of income of Hungarian origin is taxable in Hungary;

– there is no social contribution on rental income, except for Hungarian residents who exceed a certain threshold (1,000,000 Ft of rental income, with an annual contribution cap);

– VAT (27%) does not apply to long-term housing rentals in most cases, except for a specific option to be subject to VAT.

Companies, on the other hand, are subject to the corporate tax of 9% on their profits, with the possibility to depreciate the building over time.

Taxation on resale

Capital gains realized by an individual upon the sale of a property are also taxed at 15%. The taxable base is the difference between the sale price and the acquisition cost (increased by certain expenses).

Financing and public programs

Hungarian banks finance both residents and foreigners, with interest rates that, in 2025–2026, are around 6–9% for classic loans. The loan-to-value (LTV) ratio generally goes:

– up to 70% for an older property;

– up to 80% for a new property.

For foreigners, one often needs a down payment of 30–50%, unless benefiting from specific programs reserved for residents or citizens.

A new scheme, the Otthon Start program, for example offers:

– a fixed-rate loan at 3%;

– up to 50 million Ft over 25 years;

– with only 10% down payment;

– reserved for eligible first-time buyers (residency, social status, price cap conditions, etc.).

This program is mainly intended for homeownership, but it could have an indirect effect on the rental market, by allowing more households to become owners, marginally reducing rental demand.

Yield vs. appreciation: which strategy to favor in Veszprém?

In light of all this data, how does Veszprém position itself in terms of investment strategy?

Several conclusions emerge.

1. Long-term appreciation: the city operates in a national context of strong price increases (+18.3% in one year nationwide), with a local market having moved from around 630,000 to 770,000 Ft/m² in three years. Infrastructure projects, upgrading of facilities, the growing role of culture and high-tech industries suggest the trend will remain positive, even if the most brutal catch-up phase could slow down.

3. More interesting yield on the outskirts: outside the center, the estimated gross yield is around 4.6%, closer to the national average (5%). In neighborhoods with contained purchase prices (Jutasi, less prestigious sectors, small houses to renovate), it is possible to aim for gross yields close to 5–6%, in line with what is practiced in other regional cities.

5. Solidity of underlying demand: industrialization, the presence of multinationals, the university, cultural tourism, and proximity to Lake Balaton create a robust base of demand, whether for primary residence or rental.

Summary: for whom is Veszprém a good investment target?

Investing in Veszprém makes sense for several investor profiles.

– The patrimonial investor looking for a quality property in a historic city, with a good quality of life, reasonable appreciation prospects, and stable rental demand, will accept a moderate gross yield in the center in exchange for long-term security.

– The “yield” investor will rather target medium-sized apartments or houses in secondary neighborhoods (Jutasi út, residential areas around the campus, family-friendly green sectors) where the rent-to-price ratio is more favorable, while still being driven by the economic dynamic.

In all cases, Veszprém today offers an interesting compromise: prices still lower than those of Budapest and the most prestigious resort towns, a solid local economy, a burgeoning cultural offering, and an urban environment constantly improving thanks to massive public investments.

This is not the Hungarian market where one will get the highest instant gross yields, nor the most speculative one. It is rather that of a medium-sized city on the rise, well positioned between industry, culture, and tourism, where a patient and selective investor can build a balanced portfolio, both profitable and resilient.

Cyril Jarnias

Cyril Jarnias is an independent expert in international wealth management with over 20 years of experience. As an expatriate himself, he is dedicated to helping individuals and business leaders build, protect, and pass on their wealth with complete peace of mind.

On his website, cyriljarnias.com, he shares his expertise on international real estate, offshore company formation, and expatriation.

Thanks to his expertise, he offers sound advice to optimize his clients' wealth management. Cyril Jarnias is also recognized for his appearances in many prestigious media outlets such as BFM Business, les Français de l’étranger, Le Figaro, Les Echos, and Mieux vivre votre argent, where he shares his knowledge and know-how in wealth management.

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