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The vast majority of Hungarian households live on their own property and the share of market rental housing in the Hungarian housing market is extremely low compared to Europe, according to the 2016 microcensus, 6.7 percent of the occupied dwellings, around 260 thousand dwellings, were used by private owners. In 2018, 4.8% of Hungary’s population lived in market rental housing, while on average in EU Member States this proportion was close to 21%.
Although the number of people living in rented flats in Budapest is slightly higher, it is difficult to determine the exact number of housing costs that belong to the gray area of the Hungarian real estate market, making it extremely difficult to make reliable measurements of the size of the sector. rental, occupants and last but not least.
We will focus on the rental housing market and rental housing construction plans at the Housing Conference on September 10, 2020. Click for more details.
At the same time, spending on private housing has increased significantly in recent years and has become one of the determinants of the metropolitan housing situation. In addition to decision makers, market participants and researchers, the population now also requires statistical information on the evolution of incomes, filled with gaps in the lack of reliable data, data of uncertain origin and validity. A recent investigation is trying to save this by showing the supply of apartments for rent.
The results obtained provide information on the evolution of the rents on offer, so they reflect the level of rents available to new entrants, that is, many may be those who rent below certain values because their rents reflect the figures for years behind.
1118 Budapest, Beregszász út 6b
| 141 flat 46 – 186 metertwo floor surface 39.9 – 139.4 M Ft |
Delivery: 2020 Q2 |
| I need an offer | |
As we wrote yesterday in our article, the median rent for an apartment in Budapest was 140,000 HUF per month in 2015, while it increased to 175,000 HUF in early 2020, but decreased to 156,000 HUF due to the coronavirus epidemic. The average space for ads through real estate and private agencies is as follows.
In Budapest, proportionally more people rent apartments than the national average, but there are also some prominent districts within the city. Such is the 13th in Pest, where last year more than 5,000 apartments were announced for long-term rent, while in Buda the 11th district where the same number was above 4000. Although there is not necessarily a connection, it is interesting that most of the new apartments in Budapest are being built in the same two districts.
And downtown seems not only to be loved by short-term homeowners. A VI. to VII. and VIII. district, about 2,000 flats were also announced last year, placing them fifth, sixth and seventh on the list for long-term housing expenses.
Cover Image Source: Getty Images
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