• Hungarian forint
  • Budapest
  • Police news
  • HelloMagyar
Here is how to save if you live in a rented flat in Hungary!Here is how to save if you live in a rented flat in Hungary!Here is how to save if you live in a rented flat in Hungary!Here is how to save if you live in a rented flat in Hungary!
  • Politics
  • Business
  • Society
  • Sport
  • Culture
  • Special Hungary
  • News To Go
  • World
  • Contact Us
  • About us
  • About us
  • Contact Us
  • Privacy Policy
✕
Important
  • Do you want to get Hungarian castles for free? New bill makes that possible

  • Brutal bomb attack in downtown Budapest, officers injured: VIDEO never seen before

  • PHOTOS: King Charles III arrived to his favourite Hungarian village!

Support us
Kitti Tordai Kitti Tordai · 18/08/2022
· Business

Here is how to save if you live in a rented flat in Hungary!

Budapest real estate

The Hungarian rental market has been booming since the announcement of admission thresholds for Hungarian universities at the end of July. But there are a few details to look out for when renting a home, as experts estimate that prices could rise by up to 14% in the upcoming period. In this article, we share some tips to help you save on your rental costs!

Current rental fees

In mid-August, the average rent on the supply market in Budapest is EUR 483 (~HUF 195,000). This represents an increase of EUR 124 (~HUF 50,000) compared to EUR 359 (~HUF 145,000) a year earlier. This year, the average rent in eight districts of the Hungarian capital (I, II, III, V, VI, XI, XII, XIII) reaches or even exceeds EUR 496 (~HUF 200,000). In the university cities of Hungary, including Debrecen, GyÅ‘r, Szeged and Pécs, the average rent of an apartment ranges between EUR 335-372 (~HUF 135,000-150,000). At the same time, it is important to note that rents in European university cities are much more expensive than in Budapest – reported by Világgazdaság.

In the county capitals, the overall average rent rose to EUR 297 (~HUF 120,000) from EUR 260 (~HUF 105,000) last year. In terms of rental market rents, Miskolc, Szolnok, Kaposvár, Békéscsaba and Salgótarján have the most favourable rents, numerically between EUR 223-248 (~HUF 90,000-100,000).

14% price increase?

Tenants who were thinking about changing their apartment are still in time. Currently, there are approximately 12,000 apartments for rent across the country. Besides the wide range of supply, demand is also intensifying. According to Ingatlan.com, demand for rented accommodation has increased by 10% since the announcement of the admission thresholds for Hungarian universities. However, it is worth making a decision in time, as experts say that inflation could increase the rent of many apartments by as much as EUR 25-50 (~HUF 10,000-20,000). This means a rental increase of 14% in the upcoming months.

Renewal of lease contracts

August and September are the anniversaries of many people’s tenancies. In several cases, automatic rent increases are explained by the rate of inflation. This was 13.7% in July, which can mean a monthly increase of up to EUR 25-50 (~HUF 10-20,000 HUF) in the near future. It is important to note that price increases are mentioned as an option in the lease contracts, so it is up to the owners to decide whether to take advantage of it. In the case of reliable tenants, it is not always applied by owners. If this is not the case, tenants should check whether it is worth extending their tenancy or changing their place of residence.

Utilities benefit

Presumably, the new utility regulations, which impose higher tariffs for above-average electricity and gas consumption, will push tenants towards newly build rental properties with lower consumption. Therefore, tenants can benefit from choosing a more energy-efficient and cheaper apartment with lower overheads from the current wide range of supply.

According to data from ingatlan.com, the average rent for newly built, modern or upgraded apartments in Budapest was EUR 496 (~HUF 200,000) at the end of July, compared to EUR 372 (~HUF 150,000) for apartments in average condition. This means a EUR 124 (~HUF 50,000) monthly rent advantage to make the higher rent worthwhile.

Similarly, in the larger university towns, there is a difference of EUR 50-149 (~HUF 20-60,000) between modern rentals and those in average condition. Because of these significant differences, it is important that prospective tenants check the exact consumption, utility bills and common charges of the apartment before signing a contract and make their decision on this basis.

Real estate blocks of flats Hungary Budapest
Read alsoBeware: these real estates will soon be unsellable in Hungary!

Source: vg.hu, tudastar.ingatlan.com

If you would like to support the work of the Daily News Hungary staff and independent journalism,
please make a donation here
Budapest Debrecen Hungary money Pécs property real estate Szeged useful useful DNH
Share

Hot news

  • The number of Hungarians has decreased shockingly since the Peace Treaty of Trianon

  • Batumi, the four-season Georgian tourist destination, presented in Budapest

  • Reserve your seat on trains to Lake Balaton with the help of an innovation now!

  • PM Orbán under harsh attack for his pro-peace program

  • Crossing the Hungarian-Croatian, Hungarian-Serbian borders changes fundamentally

  • Foreign investors love Hungary!

Related posts

Litér German investment
04/06/2023

Foreign investors love Hungary!


Read more
Edelény Caste Island
04/06/2023

Do you want to get Hungarian castles for free? New bill makes that possible


Read more
Hungarian Summit
03/06/2023

Hungarian Summit in Budapest helps companies trade in the USA


Read more
Minister world leader Korean company investment
03/06/2023

Minister: foreign investors’ confidence in Hungary is unbroken


Read more

Leave a Reply

Your email address will not be published. Required fields are marked *

SUPPORT US
  • Facebook
  • Twitter
  • Instagram

Must read

Subscribe to our newsletter

Sign up to receive daily updates, news & stories about Hungary!

Select your location below or enter your country so we can deliver our morning newsletters to you in time.


Thank you!

You have successfully joined our subscriber list.


.

About us

Contact us

Copyright rules

Privacy policy

Advertise with us

© 2023 DailyNewsHungary. All rights reserved! | Server and development by Svigelj Levente E.V
The number of Hungarians has decreased shockingly since the Peace Treaty of Trianon

The number of Hungarians has decreased shockingly since the Peace Treaty of Trianon

Read More
Batumi, the four-season Georgian tourist destination, presented in Budapest

Batumi, the four-season Georgian tourist destination, presented in Budapest

Read More
Reserve your seat on trains to Lake Balaton with the help of an innovation now!

Reserve your seat on trains to Lake Balaton with the help of an innovation now!

Read More
PM Orbán under harsh attack for his pro-peace program

PM Orbán under harsh attack for his pro-peace program

Read More
Crossing the Hungarian-Croatian, Hungarian-Serbian borders changes fundamentally

Crossing the Hungarian-Croatian, Hungarian-Serbian borders changes fundamentally

Read More
<b> Foreign investors love Hungary! </b>

Foreign investors love Hungary!

Read More
Do you want to get Hungarian castles for free? New bill makes that possible

Do you want to get Hungarian castles for free? New bill makes that possible

Read More
PHOTOS: Danube Day organised in the picturesque heart of Transylvania

PHOTOS: Danube Day organised in the picturesque heart of Transylvania

Read More
<strong> Today marks Hungary’s biggest national disaster </strong>

Today marks Hungary’s biggest national disaster

Read More
Festival prices skyrocketing in Hungary

Festival prices skyrocketing in Hungary

Read More
  • 0
  • 1
  • 2
  • 3
  • 4
Have you read it?