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It is cheaper to live in a downtown hotel than to rent an apartment in Budapest
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There are a lot of hotels in Budapest that offer a room for 80-90 thousand HUF (EUR 250-270) per month because there are no foreign tourists in Budapest. With that price and the service they provide, they are cheaper than many of the rents available in the Hungarian capital.
According to metropol.hu, the coronavirus epidemic turned the Hungarian real estate market upside down. First, when the flow of the foreign tourists stopped, Airbnb flat owners started to offer their real estates for longer intervals. Today, downtown hotels offer at least 30-day-long room rental. In the (former) party district of Budapest, for example, you can live in a hotel for 300 EUR per month, and the price includes the overhead costs too.
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In the Corvin Hotel, you can rent a room for only 89,900 HUF (EUR 270) per month, and even if you move in together with your friend you have to pay only 10,000 HUF (EUR 30) more. The price includes tidying, 24/7 portering service, and the overhead cost. For some more, you can buy breakfast, a parking lot, and request washing as well,
so one can live there like a celebrity.
The director of the hotel, Éva Borsos, said that they offer 20 out of their 90 rooms for long-term rental, until December 27 because that is the deadline of the tourism tax moratorium. Interestingly, they expect that university students and business people will resort to their new offer.
no that is not entirely true because I am a tourist who has been here for two months before the borders closed. I have been living in hotels and Airbnb apartments bouncing around to find the best deals and there are no prices out there in this market that you have quoted in your article and I have been to already 15+ more different apartments and hotels since I’ve been here. The absolute best price for something suitable that you will find is going to be $20 USD per day so 600 USD a month. This is 100% correct. I’ve been living through this for the past two months trust me I know the market better than anybody else here right now.
Simon, I don’t think you looked at an entire month. Like you said yourselves(you’ve been to 15+)
The price is much lower per night if you book for a month. I helped a friend of mine getting two months in district 5(city center) for 550 Usd total. that was 2 different apartments as well. Right now there are 5 apartments for less than 12 dollars per day in the city center, as long as you rent a month.