Attention students: renting fees in Hungarian university cities skyrocketing!

The country experienced an average increase of 2.7% per month during the busiest part of summer.

Property and rent prices keep changing every couple of months due to many factors. Lately, the coronavirus pandemic and its restrictions introduced to protect the population influenced prices. As summer is over in a week and universities in Hungary start around the same time, the market of rentable properties is experiencing some changes again.

The biggest extremes from the Hungarian rental property market 

As every year, due to the interest of many freshmen students ready to start higher education, prices start increasing. According to the property renting index of KSH-ingatlan.com,

the average monthly increase during the past month was around 2.7% in the country.

Still, these renting fees are still behind the record rates of January 2020.

Although the most considerable change was not experienced in the capital,

renting fees are the highest in Budapest, with an average of 145 thousand forints (414 euros).

The index shows a 2.4% increase.
The bigger university cities following the capital, like Debrecen, Pécs, or Szeged, saw a 10 thousand forints (28 euros) growth.

The average renting fee in Debrecen is around 120 thousand forints (342 euros), in Szeged 110 thousand forints (314 euros), and Pécs about 100 thousand (285 euros).

These current property fees are more than 8% higher than this January’s super low prices.

Index.hu quoted the words of László Balogh, leading economic expert of ingatlan.com. “This recovery and the increase of renting fees were expected, mostly because of the start of the high season of summer. Students also appeared on the market after the higher-education admission points were made public. Although they generate the biggest demand during the summer months, this group is further strengthened by those working in a given city.

With the recovery process after the pandemic, many people are moving from elsewhere to these university cities to find jobs.”

Prices, in general, went through a significant change in the past six years.

These current renting fees are 38% higher on a national level than in 2015.

Budapest properties require 30% more money than six years ago. Still, these prices did not reach the record of January 2020, when they surpassed the 2015 level, with 40%.

The number of those interested in renting a property has increased during the first eight months of this year, as opposed to the period before the pandemic, back in 2019.

In the middle of August, there were around 19 thousand properties offered for rent in the country, 13 thousand of which are in Budapest.

Those, who are starting their studies in September and are currently scared of these prices, should not worry. Ingatlan.com offers a solution for students to find the best place that suits their needs for the best price, with some security details included in the contract.

Read alsoHere are the cheapest Budapest districts for renting an apartment

Source: index.hu, ksh.hu