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Rental price in Hungary decline ends as rents rise again, Airbnb impact limited
Hungary’s rental market saw a turnaround at the end of 2025. After several months of declining prices, rents rose again in December: nationwide rents increased by 0.6%, while Budapest recorded a 1% month-on-month rise compared with November. On an annual basis, however, rent inflation has continued to slow, with prices up 5.4% nationwide and 5.6% in the capital, according to the latest rent index compiled by the Hungarian Central Statistical Office (KSH) and Ingatlan.com.
Experts say it remains unclear whether the December increase marks a genuine trend reversal or merely a market correction following the previous downturn.
Shrinking supply may be driving prices higher
According to László Balogh, chief economic expert at Ingatlan.com, supply-side developments are key. The number of advertised rental apartments fell from over 18,000 in early September 2025 to around 17,000 by early January 2026, a decline of 7.3%. This tighter supply is likely to have contributed to the halt in price decreases and the renewed rise in rents.
Rental price in Hungary: not all apartments became more expensive
Rental growth depended strongly on an apartment’s condition. Average-condition apartments saw stronger price increases than new or nearly new units, as demand remained higher in the more affordable segment.
Over the past year, rents for average-condition apartments rose by 7% both nationwide and in Budapest. By contrast, new or nearly new apartments recorded only a 1% increase in Budapest and a 1% decline nationwide.
In Budapest, a typical two-room apartment in average condition rented for around HUF 242,000 (≈ EUR 620) in early January 2026, while a comparable new or nearly new apartment averaged HUF 307,000 (≈ EUR 790).
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District-level and regional differences
Based on early January data, the median rent in Budapest stood at HUF 260,000 (≈ EUR 665).
- District V was the most expensive, with a median rent of HUF 363,000 (≈ EUR 930)
- District XXIII was the cheapest at HUF 183,000 (≈ EUR 470)
Among popular districts:
- District VIII and IX: HUF 250,000 (≈ EUR 640)
- District XI: HUF 270,000 (≈ EUR 690)
- District XIII: HUF 260,000 (≈ EUR 665)
Outside Budapest, rental prices also rose, though with wide variation. Debrecen remains the most expensive provincial city, with rents ranging between HUF 190,000 and 270,000 (≈ EUR 490–690), depending on an apartment’s condition. This is still about 10–20% cheaper than Budapest.
Other typical monthly rents:
- Győr: HUF 200,000 (≈ EUR 510)
- Szeged, Veszprém: HUF 180,000 (≈ EUR 460)
- Pécs: HUF 175,000 (≈ EUR 450)
- Kecskemét: HUF 165,000 (≈ EUR 425)
- Eger: HUF 160,000 (≈ EUR 410)
- Miskolc: HUF 130,000 (≈ EUR 335)
Airbnb impact remains limited so far
In Budapest’s District VI (Terézváros), rents for new or nearly new apartments reached an average of HUF 352,000 (≈ EUR 900) in January, exceeding even District V. Analysts believe this may partly reflect the local ban on short-term rentals, including Airbnb, which took effect at the start of the year.
So far, however, the ban has not resulted in a clear or immediate drop in rents. Many landlords who previously earned higher returns from short-term lets appear to be seeking premium prices on the long-term market instead.
What lies ahead in early 2026?
Experts say the coming months will determine whether December’s price rise develops into a sustained trend. What already seems clear is that the period of falling rents has ended, and tenants are once again facing a tightening market.
How to rent in Hungary as a foreigner – quick guide
Most long-term rentals in Hungary are offered on a 12-month contract, usually requiring a two-month deposit plus the first month’s rent. Landlords typically ask for a passport or residence permit and proof of employment or income.
Utilities are usually paid separately and can add EUR 80–150 per month, depending on the apartment. Foreign tenants must register their address, often with the landlord’s help.
Demand is strongest in Budapest and university cities, so starting the search early and using an English-speaking agent can make the process smoother.
Read also: Why investors are turning to Hungary’s Golden Visa program – Gránit AM CEO reveals the key factors
FAQ – Hungary’s rental market in 2026 – beginning of the year
Why did rents start rising again in December?
After several months of decline, rents increased as the supply of available rental apartments shrank. Lower prices earlier in the year absorbed much of the supply, tightening the market.
Is this a long-term trend or just a temporary correction?
It is still unclear. Experts say the coming months will determine whether the December increase marks a sustained upward trend or a short-term market adjustment.
Did the Airbnb ban in Budapest lower rents?
So far, the impact appears limited. In some districts, especially District VI, rents for new or renovated apartments remain high, suggesting landlords are seeking premium prices on the long-term market.
Which apartments have become more expensive?
Rents increased most strongly for average-condition apartments, where demand is higher. New or nearly new apartments saw much smaller increases or even slight declines.
How expensive is renting in Budapest compared to other cities?
Budapest remains the most expensive market, with median rents around EUR 665 per month. Major regional cities such as Debrecen, Győr, and Szeged are typically 10–20% cheaper.
What should foreign workers and expats expect?
Foreign tenants face a tighter market with fewer listings, especially in Budapest. Stable employment, early searching, and flexibility on location can significantly improve chances.
Are rents expected to fall again in 2026?
At this stage, experts see no clear signs of another broad decline. If supply remains tight and demand stable, rents are more likely to stagnate or rise modestly than fall sharply.