Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Rental Prices in Budapest May Soon Cross an Unexpected Psychological Barrier

In just one month, rental prices in Budapest have risen by nearly 2 percent, despite a nationwide trend of slowing price increases.
March saw a further increase in rental prices, with a 0.8 percent rise nationally and 1.8 percent in Budapest compared to the previous month, according to the rental index by the Hungarian Central Statistical Office (KSH) and real estate website ingatlan.com.

Year-on-year data published on KSH’s website shows that rental prices have increased by 11.7 percent nationwide and by 12.4 percent in Budapest.

The report added that in the first three months of the year, 90 percent of the observed advertisements were for apartments in multi-apartment buildings, while the remaining approximately 10 percent advertised family houses. From January to March, 44 percent of the advertisements considered both in the capital and nationwide came from private individuals.

According to a Monday statement from ingatlan.com, quoting László Balogh, the site's leading economic expert: "The picture is mixed based on the latest data on the rental market."

"Nationally, the monthly rate of increase slowed from 1 percent in February to 0.8 percent, but in Budapest, the pace of monthly increase accelerated from 1.1 percent to 1.8 percent."

According to Balogh, the national slowdown in monthly rent increases can primarily be explained by the limits of demand affordability. Indeed, the increase in rental prices runs in parallel with wage increases.

The survey indicates that the average rental price for apartments in the capital is now 270,000 forints. Studio apartments smaller than 40 square meters are much cheaper, with an average rent of 185,000 forints.

"If the rate of wage increases does not slow down, then next year the average rental price level in Budapest could reach 300,000 forints," Balogh suggested.

He believes that rising rental prices could be partly offset by, for example, the Youth Guarantee Plus program initiated by the government in the spring, which provides social basis rental support aimed at assisting the employment of young people and job seekers.

THERE CONTINUE TO BE SIGNIFICANT REGIONAL DIFFERENCES

District V remains the most expensive, with rents costing 380,000 forints. Among the districts with the largest supply, Districts XI and XIII have average rents at the city average of 270,000 forints. The cheapest apartments are in Districts XVIII and XXI, where the cost remains below 200,000 forints.

Looking at county capitals, Debrecen is the most expensive, with an average rent of 220,000 forints in mid-April. It is followed by Győr, Székesfehérvár, and Veszprém, with rents between 176,000 and 180,000 forints. On the other end of the spectrum, Miskolc, Salgótarján, and Békéscsaba offer the cheapest rents, between 90,000 and 100,000 forints.
Newsletter

Related Articles

0:00
0:00
Close
Apple Faces Significant Sales Decline Amid AI Integration Delay
Netanyahu's Firm Stance Amid Rafah Hostage Talks
New UK Laws: Banning Weak Passwords for Internet-Connected Devices to Enhance Cybersecurity
Spanish Prime Minister May Announce Resignation
New Study: Vaping May Lower Fertility in Women Trying to Get Pregnant
U.S. DOJ Seeks Three-Year Sentence for Binance Founder Changpeng Zhao
Orban: Destroy Liberal World Order - Predicts End This Year
Diplomatic Tensions: Sunak Clashes with Macron Over Rwanda Plan
A Jewish woman was kidnapped and raped in Gennevilliers (a suburb in western Paris), France, on the background of hatred for Israel
Russia: Deputy Defense Minister Arrested on Suspicion of Taking Bribes
Stanford Researchers Discover Child Abuse Material in AI Image Generator Dataset: Can Regulations Prevent Explicit Deepfakes of Children?
Record-Breaking 'Extreme Heat Stress' Days in Europe's Contrasting 2023 Summer: A Health Threat
Thousands Evacuated: 1,000-Kg NATO Bomb Removed from Serbian City
European Car Sales Drop 5.2% in March: Electric Vehicles Face Challenges Amidst Market Downturn and High Prices
Urgent Call from William Burns as Kyiv Braces for Russian Summer Offensive.
IMF Boosts Russia's 2024 Economic Growth Forecast to 3.2%
BOEING WHISTLEBLOWER: THE MAX AIRPLANE IS NOT SAFE!!!
Creative menu of a Pizza restaurant..
The communists couldn’t ban us and neither could the Brussels bureaucrats. The second day of the NatCon Talk conference is underway.
You can be a very successful player, but a player with character is another level!
Resumption of Controversial NatCon 2024 Conference in Brussels
The 60 Minutes journalists went to Sweden to show us the wonderful world of diversity and integration but they were threatened, beaten and chased away by diversity itself.
Experience the Future of Dining: My Visit to an AI-Powered Burger Joint
China's Economy Surges Ahead with 5.3% GDP Growth in Q1 2024, Boosted by High-Tech Manufacturing
Brussels Venue Cancels Right-Wing Conference: Free Speech Crisis as Concert Noble Drops NatCon Event
The West stands with Israel, Iran is furious: "Double standards and irresponsibility"
Here is a robot that can clean the river in Siem Reap.
Play stupid games, win stupid prizes
Hungarian PM Viktor Orbán: "We condemn last night's attack against Israel, and pray for the safety of the Israeli people."
Stabbing rampage terror attack in Sydney, at least four people killed, early reports that a baby was among those stabbed.
Iran fired more than 300 drones and missiles at Israel overnight. Israel Reports Light Damage After Iran Launches Large Strike.
I will never get enough of his videos and the pure joy and beauty of these women!!
Scientists at the University of Maryland have developed an "invisibility cloak", for AI using adversarial patterns on a sweater, making the wearer nearly undetectable to standard object detection methods.
Germany and France Experience Decreased Inflation in March: Food and Energy Prices Drop
Lamborghini Bids Farewell to Its Best-Selling Sports Car: The Huracán
The Finnish government plans to cut pensions and tax hikes to fill a hole in the 2025 budget
EU Parliament Approves New Migration Pact: Faster Asylum Process, Mandatory Solidarity, and Tightened Border Controls
Women's Rights Group Highlights Impact of Sexual Harassment on German Statues
European Court Rules Climate Inaction Violates Human Rights: Historic Victory for Swiss Elderly Women
Europe's Skills Crisis: 75% of Employers Struggle to Find Workers with the Right Qualifications (2023)
Czech Government Commits €6B to New Nuclear Reactors for Decarbonisation
France to Implement €5 Fine for Missed Medical Appointments: Prime Minister's Plan to Boost Healthcare System Amid Staff Shortages and Aging Population
75 Becomes the New 65: Retiring in Your 60s Unrealistic as Life Expectancy Increases and Costs Rise
Total Solar Eclipse of 2021: 32 Million Witness the Mystical, $1.5bn Spectacle Sweep Across North America
Former Fidesz Insider Péter Magyar Leads Massive Anti-Government Protest in Budapest: 'Change Can't Be Stopped'
Slovak Presidential Election: PM Fico's Proxy Wins, Giving Coalition Full Control
Apple Modifies App Store Rules to Allow EU Music Apps to Offer External Payments
New world, new reality, let’s get used to it
UK Company Passes Milestone in Developing Space-Based Solar Power, Aiming to Power a Million Homes and Provide Constant Energy
Monty Python were so ahead of their time
×