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26th August, 2019

Rents level off in university cities

Rent prices in Budapest and large college cities have stalled in July and August, due to an increase in supply, according to senior analyst László Balogh of website ingatlan.com.

In previous years, prices continued to edge higher in the summer months after the announcement of higher education admission thresholds in mid-July. In this period demand jumps as university students scramble to find accommodation.

However, this this has not materialised this year, as the number of homes offered for rent has increased by 39-80% in one month, Balogh said.

On an annual basis, prices are still some 6% higher in Budapest, with the average monthly rent at Ft 160,000. In Debrecen and Szeged prices are up 5% and 11%, respectively, to Ft 100,000 a month, while in Miskolc prices are up 14% year-on-year to Ft 80,000.

As the supply of homes continues to expand, growth in rent prices will be modest, Balogh forecast.

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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