The location is still the most important
The elements of the luxury market have not eroded: the location is still the most important factor. The old classics are still Buda in the 12th District, the Gellért Hill and partially, Rózsadomb, the area neighbouring the Chain Bridge, Pest and Andrássy Avenue, the Parliament's surroundings, along the Danube, Szabadság tér and Szent István Park, the Danube embankments, the world heritage sites and the panoramic locations. This club expands but little, more recently District 11, Madárhegy is trying to get into this elite club.
There are strict limits on the luxury market in terms of size: an apartment smaller than 150 m2 is not considered luxury. In case of houses and mansions 250-300 m2 is the bottom limit, this is essential to comfortably accommodate three to four bedrooms, gradually each with its own bathroom and wardrobe, and of course the place for the separate and complete guest suite. The storage room, the 3-4 car garage is also an indispensable part of the luxury villa, just like the door-, or cleaning service, the gardener and the caretaker.
The other side of the river, ‘Pest’ mainly attracts foreigners. Anyone who is looking for an apartment in the city for the first time favors the downtown area, especially those who are occasionally staying here to enjoy the buzz. Anyone who wishes to reside for a longer time, prefers Buda similarly to the locals.