A significant increase is projected in real estate and rent prices in Hungary. They are forecasted to reach pre-pandemic levels.
The price of rentals is expected to spike in near future. Based on various forecasts, rental prices will bounce back to the same levels where they stood before the coronavirus pandemic. – writes 24.hu. The news site also reported that after the price drop in 2020, prices started to increase again. In December, rent was HUF 157,000 (EUR 440) on average. This rise in prices is forecasted to keep growing.
Airbnb can also influence the price of rent.
If tourists return to Hungary then Airbnb real estate will be in demand. This can affect rental prices in Budapest. It is possible that the price of rent will be the same as it was before the pandemic. This means that, on average, rent could reach HUF 170,000 (EUR 476) in the future.
The price increase appears to be a tendency. In 2021, there was an 11 per cent annual price surge nationwide.
Rental prices in November were more than 42 per cent higher than in 2015. The peak was in January 2020, with an indicator close to 46 per cent. In northern Hungary, the price of an apartment rose by 12 per cent. In the rest of the country, and in Budapest, for instance, the indicator rose by 7-10.5 per cent.
As Daily News Hungary previously reported, rent prices have been climbing steadily all across Hungary for the past 10 months. In Budapest, District V proves to be the most expensive, where rent is HUF 240,000 (EUR 652). District XXIII is the cheapest, with an average rent of EUR 290.
Outside the Hungarian capital, Veszprém used to be the priciest, but now it has changed. Székesfehérvár has arrived at the top of the list.
While the prices are climbing up, some people may think that buying real estate as an investment is much more beneficial. That can be for two reasons. For one, people pay for their own apartment instead of filling up the landlord’s pockets. For two, if someone can afford it or is eligible for a loan, they can buy real estate as an investment. This means that they can even rent it out and use the money to repay the loan.
As we wrote earlier, real estate in some settlements is extremely cheap as opposed to Budapest or other big cities. In some villages such as Kevermes (Békés County), Kötegyán (Békés County), Szeremle (Bács-Kiskun County), Fábiánsebestény (Csongrád-Csanád County), Péterhida (Somogy County), and Egyek (Hajdú-Bihar County) real estate prices can be as low as HUF 10,000 (EUR 27). While this price seems attractive, the chances of finding tenants are considerably higher in big cities. To read more about the cheapest and most expensive options, click HERE.
Read alsoThis is why 2022 will be a very exciting year for the Hungarian property market
Source: 24.hu, DNH
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