A new era: rental prices in Budapest started to decrease

We wrote a lot of articles before about the skyrocketing rental prices in Budapest and about the fact that many Hungarians cannot find a place to live because of the low wages in the capital. Now, it seems that the coronavirus epidemic and the economic crisis following it are going to reverse the trend, and the price of renting is decreasing for the first time in a long period.

According to Index, this year, the owners have to fight for the tenants, which is considered to be a significant turning point in the Hungarian real estate market. This is the result of the economic crisis caused by the coronavirus epidemic. Rental fees reached their peak in March, and now, it seems that the sector is marching towards a crisis even in Budapest.

Therefore, landlords are offering their flats for less money, and requirements are also easier to meet. For example, one-third of them would be satisfied with a deposit equal to one month’s rent instead of the previous two months.