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Planning on moving? Hungary’s rental prices fall for a third month as demand weakens
Rental prices in Hungary continued to decline in November, marking the third consecutive month of decreases both nationwide and in Budapest, according to the latest KSH–Ingatlan.com Rent Index. Average rents fell by 0.8% compared with October, reflecting a notable slowdown in the market as demand eases and supply expands.
Despite the monthly drop, rents remain higher than a year ago. Nationally, prices were up 6.2% year-on-year in November, while in Budapest the annual increase stood at 5.6%.
Otthon Start programme reshapes the rental market
According to László Balogh, lead economic analyst at Ingatlan.com, the downturn in the rental market can be traced back to September, when the government launched the Otthon Start scheme offering discounted loans to first-time buyers.
He explained that many renters left the rental market to pursue homeownership, which resulted in a sudden shift in demand:
“The programme effectively pulled a large number of tenants out of the rental market,” Balogh said. “It is rare to see rent levels fall for three consecutive months. The last time this happened was during the peak of the pandemic in 2020.”
Earlier in the year, investors who had channelled their government bond savings into rental property purchases expected continued price growth. However, the sharp decline in demand has changed market dynamics significantly.
Demand down, supply up
Data from Ingatlan.com highlights the scale of the shift. In 2025, demand for rental properties fell by 13.8% compared with 2024.
- In Budapest districts, interest dropped by 14.4%,
- In county seats and major cities by 16.7%,
- In other towns by 7.9%.
At the same time, new rental listings surged. More than 90,000 properties have been advertised for rent this year, 7% more than in 2024. While there were around 16,600 active listings in January, the current number is approaching 17,700.
