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- According to the rental index KSH-ingatlan.com, which shows the evolution of the rents of the apartments for rent throughout the country, the decrease was 6.4% year-on-year in August.
- Compared to last year, rents in Budapest decreased by 10.2 percent, which is higher than the national average.
- Rents were down 3.7% in Pest County, 3.6% in the Southern Great Plain region and 3% in Western Transdanubia.
- and in the South Transdanubia region the decrease was 0.8 percent.
- At the same time, there was a 0.2% increase in apartment rentals in Central Transdanubia,
- and 2.4% more had to be given for subleases in northern Hungary.
Fall into Budapest
László Balogh, senior economic expert at ingatlan.com, says:
The rental market is determined by the economic uncertainty caused by the epidemic.
And in this situation, the owners were forced to set aside the fees.
The drop in rents was most spectacular in the capital, which has the strongest rental market.
Within Budapest, rents fell the most in Pest’s inner districts in August, falling 12.7 percent year-on-year.
In previous years, these districts, including V., VI. and VII. – were the most expensive, that is, there was a greater drop from the highest price level. The main factor in the decline of the star districts in question was the fact that the number of rental apartments per thousand inhabitants was by far the highest in August, which is favorable for tenants.
Apartments have not been available at such cheap prices for several years.
The rental index shows the change in the rent of available rental apartments nationwide in August, but data from ingatlan.com also shows that:
By the end of September, second-hand apartments could be rented in Budapest for an average of 140,000 HUF.
This also means that the average has fallen to the level of more than three years ago. The last time it was equally cheap was in 2017 and before it was possible to get an apartment in the capital.
At the end of September, the average rent in District V, one of the most expensive areas of the city, was 180,000 HUF. in the district, the owners ask for 140 thousand florins. The cheapest is XXIII. district, where the average fee is 100,000 HUF.
(Cover Image: Index)
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