Good news for tenants: New home loan could slash Budapest rents by 17%
A subsidised credit scheme for first-time home buyers could reduce rents by easing demand and increasing supply, especially in Budapest and university towns, listed real estate broker Duna House said in a press release on Thursday.
Duna House chief analyst Péter Szegő said that if just one-tenth of renters in Budapest, around 20,000 households, availed of the 3pc fixed-rate home loans, rental rates could fall by 16-17pc in the mid-term, saving tenants HUF 40,000-43,000 a month (EUR 100-108).
Duna House data show the average price of a home in Budapest purchased for investment purposes is HUF 88.4m. In the rest of the country, the average price is HUF 36.4m. The Home Start subsidised credit will be available from 1 September.
Watchdog launches probe of Airbnb
Hungary’s Competition Office (GVH) on Thursday announced the launch of a probe of Airbnb on suspicion that the homestay organiser misled Hungarian consumers.
GVH said the terms of service on Airbnb’s website and mobile application were “fragmented” and “contained contradictions”, and were available in English only in some cases. It is likely that Airbnb did not take proper care to inform consumers about its terms of service, especially for bookings and refunds, it added. GVH has an initial three months to conduct the probe.
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