Apartment rent prices in Budapest brutal high!

In Budapest, one can rent brick-built apartments for HUF 125,000-350,000 (308.84 – 864.76 EUR), panels from HUF 130,000-290,000 (EUR 321.20 – 716.51), and rooms for rent are offered for nearly HUF 35,500-118,500 (EUR 87.71 – 292.78).

One can choose from nearly 12,000 apartments for rent

Although the prices of apartments for rent are not low, the selection is wide. Those who have recently reached the anniversary of their lease can expect a 14 percent price increase. – reports piacesprofit.hu. This can increase the monthly rental fees of existing contracts by HUF 10,000-20,000 (EUR 24.71 – 49.41). However, those who might want to switch to a cheaper sublet, now they can choose from nearly 12,000 apartments for rent across the country.

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Inflation may cause higher prices

“Inflation was 13.7 percent in July, so for those whose lease agreement uses annual inflation as the basis for the rent increase, depending on the apartment, they can expect a HUF 10-20,000 (EUR 24.71 – 49.41) price increase if they stay in the given sublease. It is important that the price increase is indicated as an option in the rental contracts, so it also depends on the owners whether they take advantage of it. For example, this is not enforced in all cases with reliable tenants. In any case, the double-digit inflation expected in July and for this year may contribute to the further increase in the price of already issued sublets,” said László Balogh, the leading economic expert of ingtalan.com.

In District XIII, the average price of apartments for rent is HUF 200,000 (EUR 494.15)

According to hvg, the price of sublets changes depending on which district the apartment is located in. The average price of apartments for rent is HUF 185,000 (EUR 457.09) in the VIII. district, HUF 190,000 (EUR 469.44) in the XI., HUF 210,000 (EUR 518.86) in the XI., and HUF 200,000 (EUR 494.15) in the XIII. “Although the rise in rents is undoubtedly fast, the longer-term data, which also takes inflation into account, show a more moderate rise in prices. Compared to 2015, average rents rose by almost 66 percent nationally and by 57 percent in the capital until June, according to the rent index.” – says László Balogh.

However, the average rent on the Budapest supply market has risen to HUf 195,000 (EUR 481.79) in mid-August, compared to HUF 145,000 (EUR 358.26) a year earlier. Already in eight districts (I., II., III., V., VI., XI., XII., XIII.), the average rent is at least HUF 200,000 (EUR 494.15).

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Source: piacesprofit.hu, hvg.hu