Be quick! You will not find a flat to rent in Hungary soon

Experts said that the rental market regularly begins to flourish after the announcement of the higher education entrance points. However, this year is different. The market has already started to show signs of booming, so you should be quick to catch the best options.

According to Blikk, a Hungarian tabloid, on an annual comparison, demand has risen by 7 percent since April. Based on the latest analysis of ingatlan.com, Hungary’s biggest real estate advertising centre, demand is rising, while supply received a boost in June and July in the country.

The reason is that many lease contracts will end in the following weeks and months. Owners plan increases due to the general inflation, and they regularly inform their subtenants about that decision. Therefore, many of them already started to look for other, cheaper flats.

Blocks of flats in Budapest. Photo: BKK/FB

Supply started to increase after May. In June, the positive rate was 5, while in July, it was 7 percent. The reason is the gradual price growth. The index of the Hungarian Central Statistical Office (KSH) and ingatlan.com shows a general 15 percent rise in the sector compared to last year. László Balogh, ingatlan.com’s leading analyst, added that due to the rise in the rental fees, many subtenants would like to find cheaper accommodation before the big boom caused by the announcement of the higher education entrance points. As a result, many flats become empty, and owners would like to fill them with new people, basically future students, who would pay more money than the previous subtenants.

HERE you may read about 20 Dutch families moving into a tiny Hungarian village in Nógrád county. Want to buy real estate in Hungary? Balaton is one of the most expensive regions, while home-ownership is virtually impossible in Budapest.