Number of available flats in Budapest increases, prices decrease

On the real estate market of Budapest, the number of available flats has increased by 20-30% in recent months, and they even became cheaper. According to the report of Duna House, some prices even dropped by 30%, and the situation is the same outside the capital.

• Hungarian flat prices decreased the most in Europe

Index reported that the movements in the real estate market of Budapest are influenced by international and Hungarian students and employees. In recent months, many employees who advertised a flat to rent have sent away almost 80% of those who rented the flat. With the lack of tourism in the country, flats advertised for short periods have now become estates to rent for long periods. 

Because of the rapid changes, Duna House believes that the real estate market of Budapest competes with university dormitories.

Hungarian students moving to Budapest from the countryside can start searching for a flat with more luck and opportunities. Debrecen, Pécs, and Szeged – the top three major university cities of Hungary – have experienced the lack of incoming students from Hungary and other countries. 

These cities believe, though, that with the relaunch of international scholarships, the number of incoming students will increase again.

Read alsoShould university students rent or buy in Hungary?

Featured image: www.facebook.com/spiceofeurope

Source: www.index.hu