Some Budapest buyers deliberately look for a flat to renovate. It makes sense: in an old apartment house, a good location, high ceilings and character are often more affordable when the interior still looks like the 1970s or 1980s. After the work, you can end up with a home you would never find ready-made.
The risk is real, though. According to Duna House data from early 2026, the average price of flats needing renovation in Budapest has reached HUF 1.1 million per m², roughly 20% more than a year earlier. A "doer-upper" is no longer cheap, and if the renovation costs more than planned, the advantage quickly disappears. This article helps you see what you are taking on before you buy.
The viewing: what to check in an old flat
In a flat that needs work, the tiles and the kitchen matter least. What really counts is in the walls, the floor and the structure. Go through these, ideally with a professional:
- Wiring. Aluminium cables, no earthing, an old fuse box. In an old flat, assume a full rewire, and check the available electrical capacity. An induction hob, air conditioning and an electric water heater together may need an upgrade.
- Water and drainage. What are the pipes inside the flat made of, and what state is the riser (the shared vertical pipe) in? If the building plans to replace the risers soon, time your renovation around it.
- Heating. Gas convector heaters, a combination boiler or district heating? Is there a suitable flue, and what does the chimney sweep say? Replacing the heating system can be one of the biggest items.
- Floors and structure. Timber-beam floors are common in old buildings. Uneven floors, cracks or signs of leaks below the bathroom all call for a closer look.
- Damp. Rising damp on ground floors and courtyard walls, and roof leaks in attic flats, are the most common problems.
- Windows. Old double-casement timber windows can be restored or replaced, but they are part of the façade, so the owners' association, and in a protected building the authorities, have a say.
- The building. Stairwell, roof, façade, lift and cellar. These are shared costs, and a major building renovation can shape your monthly outgoings for years.
The deed of foundation, the house rules, minutes of the last two years' owners' meetings, the renovation fund balance and a statement of no service-charge arrears tell you as much as the flat itself.
What needs permission or consent?
Most renovation work inside a flat does not need a building permit. Some jobs, however, need the consent of the owners' association, a specialist authority or a utility network operator.
| Work | Whose permission or consent is needed? |
|---|---|
| Painting, tiling, replacing kitchen and bathroom in existing positions | Usually nobody's, but working hours in the house rules apply |
| Removing a partition wall | Get a structural engineer to confirm it is not load-bearing |
| Touching a load-bearing wall or floor | Structural design, owners' consent and, depending on the work, an official procedure |
| Altering a riser or shared pipework | Owners' association (common property) |
| Replacing a gas appliance or altering gas pipes | Gas designer, approval from the gas network operator, chimney sweep's statement |
| Increasing electrical capacity | The electricity network operator |
| Replacing windows | Owners' association (façade), and heritage or townscape rules for listed or locally protected buildings |
| Outdoor air-conditioning unit on the façade | Owners' association, townscape rules for protected buildings |
The exact steps always depend on the specific building and the specific work. If you are touching load-bearing structure, gas or the façade, start with an architect or structural engineer before hiring a contractor.
If your offer price assumes you will knock down a wall or move the bathroom, have a structural engineer and a building services designer check it before signing. A load-bearing wall, or the position of the riser and the fall of the drainage, can make the plan impossible.
What does a renovation cost?
Renovation costs vary widely, so ranges are the only honest answer. Based on 2025 construction price round-ups, per m²:
| Level | What it covers | HUF/m² (2025) | For a 75 m² flat |
|---|---|---|---|
| Basic | Painting, small repairs | 30,000–60,000 | HUF 2.25–4.5m |
| Medium | Plus tiling and bathroom | 80,000–150,000 | HUF 6–11.25m |
| Full | Plus plumbing, wiring, windows | 150,000–300,000 | HUF 11.25–22.5m |
A 2026 price round-up gives HUF 135,000–275,000 per m² for a full renovation and adds roughly HUF 20,000 per m² for design by an architect or interior designer. The same source estimates a full renovation of a 65 m² flat at around HUF 13 million.
Some individual items: according to the 2025 round-up, replacing a 150 × 150 cm double tilt-and-turn window, including removal and fitting, averaged HUF 250,000, and a 90 × 210 cm balcony door HUF 460,000. On a protected façade or with custom-made windows, expect more.
A worked example
Take a 75 m² flat needing renovation at the Budapest average of HUF 1.1 million per m², or HUF 82.5 million. A full renovation at HUF 200,000 per m² is HUF 15 million, plus a 10% contingency: HUF 16.5 million. The flat then costs about HUF 99 million before transfer tax and legal fees, or roughly HUF 1.32 million per m².
According to ingatlan.com data from early 2026, the average price per m² of resale flats in Budapest was around HUF 1.5 million. So renovating can pay off, but rent or mortgage payments during the works, your own time and the risk of delays quickly eat into the difference.
How a renovation runs
- Survey and design. Architect or interior designer, plus a structural engineer and building services designer where needed.
- Consents. Owners' association, gas, electricity and, in protected buildings, the authorities.
- Quotes. At least three itemised quotes for the same specification.
- Contract. Fixed price or unit rates, schedule, penalties for delay, warranty, and payments tied to completed stages.
- Works. Strip-out, plumbing and wiring, plastering and screed, tiling, painting, fitting.
- Handover. Snagging list, handover record, and the building services and electrical documentation, including test certificates.
A flat is not habitable during a full renovation. Budget for rent or temporary accommodation, and remember that with a mortgage, repayments start while the work is still going on. A delay costs you twice here, so the deadline and the late-completion penalty in the contractor's agreement matter as much as the price.
Where not to cut corners, and where you can
Don't cut corners on wiring, bathroom waterproofing, plumbing and heating, or window installation. These stay inside the walls, and fixing them later costs many times more.
You can save on the price bracket of tiles and sanitaryware, on furniture and on lighting. These can be swapped later without opening up a wall.
Energy: renovation as added value
A renovation can significantly improve an old flat's energy rating, which shows in your bills and in how easily the flat sells later. An energy performance certificate is required when selling or letting, and the rating must appear in the listing. Under the current government decree, the certificate is valid for five years, on a scale from A+++ to I.
Under the central bank's (MNB) rules, since 2025 a 10% deposit may be enough for a mortgage if, after renovation, the home reaches at least an A rating with primary energy demand of no more than 76 kWh/m² a year, or if primary energy demand falls by at least 30%. This is less common for an inner-city flat, but worth checking for a thorough renovation that includes new windows and a modern heating system.
If you want a specific flat's renovation needs assessed before you make an offer, checking it with a specialist is part of our buyer representation work. For what else to check before buying, see buying property in 2026.
Frequently asked questions
Do I need a building permit to renovate a flat?
Not usually for work inside the flat that does not touch the structure. If you affect load-bearing elements, shared pipework, the façade or gas, you may need consent from the owners' association, a utility operator or the authorities.
How much contingency should I keep for an old flat?
At least 10% on top of the itemised quote, and for a very old or poorly maintained flat, 15–20%. Something unexpected almost always turns up once the walls are opened.
Will the owners' association replace the riser?
The riser is common property, so the association decides on replacing it and the community bears the cost. If the building is planning it now, it is worth waiting and timing your renovation to match.
Is it worth buying a flat to renovate in 2026?
Yes, if the price plus a realistic renovation budget still comes in below the price of finished flats. With prices for flats needing renovation up roughly 20% in a year by early 2026, the sums need more care than before.
Looking to buy or sell in Budapest?
In a 30-minute call we go through what you are looking for, your budget and which districts make sense. In English or Hungarian, with no obligation.
Book a call
Urbán Réka founded Monvero. She works with buyers and investors in Budapest, Dubai and on the Costa del Sol, from setting the budget to signing. This article is for general information; for advice on your own situation, get in touch.
