According to experts, rents are unlikely to fall in the near future, with one reason being that demand is stable.Continue reading
There are 18 percent more flats and houses for rent in Hungary and 14 percent more in Budapest than this time a year ago, with average rents in Budapest reaching HUF 230,000 (EUR 616) per month in mid-June. Compared to May, rents rose by 1.8 percent nationally and by 15.6 percent year-on-year, Világgazdaság reports.
According to the latest KSH-ingatlan.com rent index, average rents rose by 1.8 percent in the country and by 0.6 percent in the capital in May compared to the previous month.
An increasing number of people are entering the market, with the number of residential properties for rent in Budapest up 14 percent compared to June of last year.
Currently, there are more than 11,800 apartments and houses for rent to choose from, which is an 18 percent increase in supply nationwide on an annual basis. Although the increase in supply has so far not curbed the rise in rents, the expert believes that this could happen if the number of properties for rent continues to rise on a sustained basis.
Within the capital, districts II and V are the most expensive, with apartments for rent at HUF 350,000 (EUR 937).
In mid-June, the average rent in Budapest was HUF 230,000 (EUR 616) among apartments for rent advertised by owners.
The average rent was above the capital’s average in district XIII, where it was HUF 240,000 (EUR 643). In the most popular district, XI, it was HUF 225,000 (EUR 603). The least expensive districts, mostly in the suburban areas, such as districts XVII, XXI, and XXIII, have an average rent of HUF 150-155,000 (EUR 402-413).
In the countryside, rent is around HUF 130,000 (EUR 348), with Veszprém in western Hungary near Lake Balaton being the most expensive with an average of HUF 167,000 (EUR 447), followed by Székesfehérvár, some 60 kilometers from Budapest, Debrecen in eastern Hungary, and Tatabánya, also 60 kilometers from the capital, with HUF 160-165,000 (EUR 429-442).
Salgótarján in northern Hungary and Békéscsaba in the south remain among the least expensive cities, with rents advertised at HUF 90,000 (EUR 241).
Via Világgazdaság, Featured Photo via Pexels
