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Flats in Panel Blocks Are Most Popular Rentals This Year

Fanni Kaszás 2019.07.23.

According to the statistics of real estate website ingatlan.com, flats in panel house blocks seem to be the most popular choices among housing estates this rental season. In the analysis released by MTI on Tuesday, the company compared the cheapest studio apartments of less than 40 square meters, and the rental costs of flats in panel blocks based on data from mid-July in Budapest and in university cities around Hungary.

László Balogh, leading economic expert at the site said that the national renting portfolio has approximately 1100 panel flats and almost 2500 studios. Although there is an overlap, statistics show that every tenth studio apartment on offer is situated in a panel block of flats. There are differences both within the capital and in the countryside, but statistics show that almost everywhere smaller studios and flats in blocks are cheaper than the average, which will make students look for these kinds of flats in the renting season. According to ingatlan.com’s data, in July, apartments of less than 40 square meters provided 18% of the flats for rent in Budapest.

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Looking at the major university cities, one fifth of the flats in Pécs and Győr were also studio apartments, mostly in blocks of flats, while in Debrecen and Szeged they accounted for only 14-15% of the flats for rent. Balogh pointed out that students in Miskolc are in the best position, because more than a quarter of the apartments available for rent are cheaper studios.

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Average price almost 160,000 forints

According to the website’s analysis, an average of 160,000 forints was the cost of apartments in the capital in July. For studios smaller than 40 square meters, it is around 140,000 forints, while apartments in panel blocks of flats amounted to approximately 125,000 forints. In Budapest, one of the most popular districts, due to the number of universities situated there, is the XI district, where the average price of the flats in panel blocks could reach as high as 158,000 forints, while studios are available from 130,000 forints. As for the XIII. district, owners averagely asked for 140,000 forints for studios and 130,000 for the apartments in blocks of flats.

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The average rent in Debrecen was around 100,000 forints in July with 95,000 for studios and an average of 80,000 for flats, while in Miskolc the rent stands on an average of 80,000 forints. The Szeged market sits on a higher average of 100,000 forints. There is a significant difference in the rental rates in Győr: the cost of flats less than 100 square meters are an average of 110,000 forints, while apartments in blocks of flats are slightly cheaper, costing around 100,000. Studios less than 40 square meters on average cost around 58,000, which is significantly cheaper.