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24th July, 2019

Budapest rents keep increasing

Rents in Budapest’s outer districts are catching up with those in the more central districts, according to Balla Real Estate.

The lowest rentals of Ft 80,000-150,000 are the most sought-after in the Budapest housing market, for which price a one-and-a-half room flat can be rented in the inner districts.

The increases have slowed down somewhat but are still ongoing.

As the most important aspects are location and transport, accessible outer districts are reaching the price of the more expensive inner-city homes.

Tenant groups are diverse, such as students from other parts of the country enrolled in higher education, former foreign-currency mortgage debtors, people who have moved to Budapest to take jobs, and those forced to move into rented accommodation due to divorce.

Property management services are becoming more popular, as there are more foreign or countryside landlords.

Sources regularly consulted, with abbreviations used in text: Népszabadság (N); Magyar Hírlap (MH); Világgazdaság (VG); Napi Gazdaság (NG); Magyar Nemzet (MN); Népszava (Nsz); Kossuth Rádió news (KR); nightly TV news (TV).

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