Decline in rental prices in Hungary ends as rents rise again, Airbnb impact limited

Hungary’s rental market saw a turnaround at the end of 2025. After several months of declining prices, rents rose again in December: nationwide rents increased by 0.6%, while Budapest recorded a 1% month-on-month rise compared with November. On an annual basis, however, rent inflation has continued to slow, with prices up 5.4% nationwide and 5.6% in the capital, according to the latest rent index compiled by the Hungarian Central Statistical Office (KSH) and Ingatlan.com.

Experts say it remains unclear whether the December increase marks a genuine trend reversal or merely a market correction following the previous downturn.

Shrinking supply may be driving prices higher

According to László Balogh, chief economic expert at Ingatlan.com, supply-side developments are key. The number of advertised rental apartments fell from over 18,000 in early September 2025 to around 17,000 by early January 2026, a decline of 7.3%. This tighter supply is likely to have contributed to the halt in price decreases and the renewed rise in rents.

Rental price in Hungary: not all apartments became more expensive

Rental growth depended strongly on an apartment’s condition. Average-condition apartments saw stronger price increases than new or nearly new units, as demand remained higher in the more affordable segment.

Over the past year, rents for average-condition apartments rose by 7% both nationwide and in Budapest. By contrast, new or nearly new apartments recorded only a 1% increase in Budapest and a 1% decline nationwide.

In Budapest, a typical two-room apartment in average condition rented for around HUF 242,000 (≈ EUR 620) in early January 2026, while a comparable new or nearly new apartment averaged HUF 307,000 (≈ EUR 790).

Read also – The two realities of Hungary: Properties sold for EUR 2000 and 4.5 million last year

District-level and regional differences

Based on early January data, the median rent in Budapest stood at HUF 260,000 (≈ EUR 665).

• District V was the most expensive, with a median rent of HUF 363,000 (≈ EUR 930)
• District XXIII was the cheapest at HUF 183,000 (≈ EUR 470)

Among popular districts:

• District VIII and IX: HUF 250,000 (≈ EUR 640)
• District XI: HUF 270,000 (≈ EUR 690)
• District XIII: HUF 260,000 (≈ EUR 665)

Outside Budapest, rental prices also rose, though with wide variation. Debrecen remains the most expensive provincial city, with rents ranging between HUF 190,000 and 270,000 (≈ EUR 490–690), depending on an apartment’s condition. This is still about 10–20% cheaper than Budapest.

Other typical monthly rents:

• Győr: HUF 200,000 (≈ EUR 510)
• Szeged, Veszprém: HUF 180,000 (≈ EUR 460)
• Pécs: HUF 175,000 (≈ EUR 450)
• Kecskemét: HUF 165,000 (≈ EUR 425)
• Eger: HUF 160,000 (≈ EUR 410)
• Miskolc: HUF 130,000 (≈ EUR 335)

Airbnb impact remains limited so far

In Budapest’s District VI (Terézváros), rents for new or nearly new apartments reached an average of HUF 352,000 (≈ EUR 900) in January, exceeding even District V. Analysts believe this may partly reflect the local ban on short-term rentals, including Airbnb, which took effect at the start of the year.

So far, however, the ban has not resulted in a clear or immediate drop in rents. Many landlords who previously earned higher returns from short-term lets appear to be seeking premium prices on the long-term market instead.