Hungary suffered a brutal rental price rise last year!
A recently published analysis shows that rental prices climbed 13 pc in Hungary in 2021.
According to hvg.hu, the national rate is 13.1 pc, while this number is 12.7 pc in Budapest. That was the price rise between 2020 December and 2021 December. Compared to November, the increase was 0.4 pc in the capital and 0.6 pc in Hungary. Furthermore, the news website said that the number of real estates offered for rent increased in Budapest and decreased in the other major cities.
Compater to 2015 December, rental prices were 43.6 pc higher in 2021 December – László Balogh, an expert of ingatlan.hu, said. However, that is still not a record since rental fees were higher in 2020 January. He added that rental prices would ascend to pre-pandemic levels in the next few months.Â
The 5th district of Budapest is the most expensive, with a 50 pc rise between 2021 January and 2022 January. That is a historical record. Meanwhile, the 23rd district is the cheapest with only a 29 pc increase. Among the cities, Székesfehérvár is the most expensive, where rental prices climbed up by 17 pc.
Origo.hu says that rental prices were lowest last January, but they have been increasing ever since.
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Read alsoHungary broke EU record in real estate price rise!
Source: hvg.hu, origo.hu
Tennants of RENTAL Properties in Budapest, Hungary – and those looking or plan to RENT – do your investagatory homework, before you sign any Lease/Rental Agreement.
This article reporting a “Mean” of 13% in Budapest – 20/12/2000 to 20/12/2021 – in Budapest – just re-affirms the GREED driven philosophy of Landlords.
Tennants – the high degree STILL of properties for short & long term rental accommadation in Budapest – landlords somewhat screaming out for tennants through an over supply of rental properties – bargain with them – challenge them in there rental costs.
Greed and Exploitation – is RAMPANT throughout the Rental Property Market – in Budapest and that is without TOURISM.
What are the TRUE – Economic & Financial REASON(S) – what justification is there – to see a “Mean” rise in Rental Property Cost – as outlined in this article ???
Tennants – do your Homework and don’t fall foul of Greed & Exploitation.