In the next few days, the Hungarian government may reveal its new dormitory program. There is not much information available yet about the new project, but some details have already leaked. While exact numbers are not yet available, the National Union of Students in Hungary (HÖOK) estimated that 3350 dormitory slots are needed in Budapest.
The government is not just interested in helping students in need, but is aware that after last year’s real estate boom, the accommodation crisis is getting worse and worse in the city. Rental prices are approaching Western European levels. Many students who come from the countryside simply cannot afford to study in the capital due to the increasing prices.
The new dormitory program would not just be helpful for students; an increase in available rooms in Budapest would also be an additional positive point for the city’s Olympic application. An expert from international accounting firm PriceWaterhouseCoopers reinforced the positive impact that new dormitories could have on Budapest’s bid to host the 2024 Summer Olympics. According to him, 7000 new places are required.
This would by no means be a cheap endeavour, however; even if only half of this number is implemented, such a construction project would cost around 100-200 billion forint (roughly 320 to 650,000 euros).
Image via MTI