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Apartment rentals in Budapest collapsed as a result of the second wave of the coronavirus epidemic, and since the beginning of November, following the declaration of emergency, rented apartments worth about 100,000 HUF per month appeared in droves, MTI reported referring to the announcement from rentingo.com.
According to the announcement, rental market prices in Budapest approached the level of the beginning of the year in the summer, after the first wave of the coronavirus epidemic in spring. According to the analysis, although the average price rose above 160,000 HUF in May on the supply side, it only approached 150,000 HUF in July on the demand side. After that, the market did not return to the beginning of the school year in September, the decline was continuous and, due to the second wave of the epidemic, the average monthly rent in the capital remains below 150,000 HUF.
Data from the portal between January and November also shows that in response to changes in the market, many of the owners made the deposit conditions more favorable as a first step and then reduced the price.
According to the report, two dominant market trends prevailed this year: Airbnb flats have been converted to subleases, and due to declining demand due to the epidemic, landlords increasingly view housing as a service, spending more time and energy finding the right tenant.
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