Whereas a large majority of Hungarians still aspire to buy their own housing, more people who are moving to where there’s a job are opting to rent, the daily Népszava said on Tuesday.
More and more people with savings are buying to rent in order to take advantage of growing demand for rented properties.
In 2017, 5.2 percent of households rented housing on the market, while in 2011 only 3.6 percent did, according to the Central Statistical Office (KSH). The proportion of non-market tenants such as those in social housing remained steady at around 3.5-3.8 percent.
Meanwhile, property ownership for own use declined from 87.6 percent to 85.2 percent in the same period.
Property rentals are doing the briskest trade in Budapest and Hungary’s larger cities, where the proportion of rented housing is 8 percent and 8.4 percent, respectively.