How the rental market is shaping up in Hungary after the announcement of university admission scores

After today’s announcement of university admission scores, a new wave of excitement hits prospective first-year students and their families, with a pressing question: where will they live during their studies?

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University towns: Rental market in Szeged

In Szeged, the anticipation had already stirred activity around rental properties even before the scores were revealed, Világgazdaság writes. Gabriella Szil, head of the Belvárosi Real Estate Office, noted that the limited availability of dormitory spaces in Szeged drives students towards renting apartments. Unlike previous years, when many parents purchased apartments for their university-bound children, this year shows a shift towards renting.

However, the demand has driven up rental prices. Currently, renting an apartment in Szeged costs 20-25% more per month than last year. Hungarian families typically seek more affordable rentals, ideally under HUF 140,000 (EUR 357) per month.

In contrast, foreign students studying in the city are willing to pay higher prices. They generally rent properties within the city’s central ring, close to the university, often based solely on video tours. The GDN office in Szeged expects a surge in the market and is prepared for the rush.

Rents in Kaposvár and Szombathely

Kaposvár, on the other hand, experiences little fluctuation in the market due to student arrivals. According to Zita Zsobrák, sales manager at Kaposingatlan, the university campus can accommodate most students, resulting in few seeking rentals or purchases specifically because of their studies.

Similarly, in Szombathely, the rental market is more influenced by migrant workers rather than students. While some students do seek out rentals, they generally prefer to purchase properties, as noted by Ernő Gombos, owner of the local GDN office.

Real estate market in Debrecen

Debrecen’s real estate landscape has been significantly shaped by industrial development. The influx of workers requires adequate housing, and with restrictions on worker dormitories, many turn to renting apartments. This demand keeps the rental market vibrant, even before the influx of students, driving up prices.

In Debrecen, the market is clearly a seller’s market, with rental prices ranging from HUF 180,000 to 230,000 (EUR 458 to 585). Dávid Préda, owner of PREDA SIP Real Estate, mentioned plans to offer property management services due to the high demand for well-conditioned properties, which often get rented out quickly without advertising. They also aim to assist renters, particularly young people, who may not fully understand their rights as tenants.

The Miskolc market

The Miskolc university campus, rich in dormitory spaces, generally keeps rental demand steady. However, properties near the Avas area, close to the university, are an exception, as pointed out by Gáspár Zsolt Hajdú, head of the Demeter Real Estate Center. Some investors target these areas specifically for student rentals, while others have seen foreign students opting for properties further from the campus due to direct transport links.

The situation in Pécs

In Pécs, the trend leans more towards renting than purchasing properties, as stated by László Marosvári, owner of the local GDN office. The rental market in Pécs is diverse in terms of price and amenities, with international students willing to pay more for well-equipped, often new or renovated apartments with balconies. Rent prices typically range around HUF 3,000-4,000 (EUR 7.63-10.17) per square meter.

Rental prices in Budapest

Even before the announcement of admission scores, rental prices in Budapest began to rise. Students primarily look for small studios or share larger apartments, according to Anna Radics, sales manager at Your Home in the I District, part of the GDN network. Radics highlighted a shift from short-term rentals to long-term leases, bringing many well-furnished, centrally located apartments onto the rental market.

This shift has made it difficult to find quality rental properties at a good price if they’re not modern and well-equipped. Many properties are newly built or significantly upgraded, with rents ranging from HUF 200,000 to 300,000 (EUR 509 to 763) per month. The trend shows that finding cheaper, quality rental housing in the capital is increasingly challenging.

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Featured image: depositphotos.com