The year 2021 ended with an increase in prices, although under the influence of Covid, this was not a sure thing at all. The drastic rise in prices is felt mainly in Budapest.
The rise in prices on the rental market continued in 2021, and in December 2021, rents increased by 0.6 per cent nationwide compared to November. Year-on-year price increases were 13.1% nationwide and 12.7% in Budapest. Last year, more than a hundred thousand apartments and houses were offered for rent, which corresponds to the 2020 supply level. In 2021, supply increased in Budapest and decreased in other cities, says mandiner.hu.
Budapest prices at a peak
In January 2022, the apartments in the 5th district of Budapest were offered for the most expensive price. The rent of HUF 245,000 (€675) corresponds to an increase of more than fifty per cent, a historical record.
In addition to last year’s changes in the rental market, the analysis also shows the current rent prices in January. In Budapest, the average amount is HUF 150,000 (€410) per month, which corresponds to an increase of more than 11 per cent compared to the level of last January.
Székesfehérvár, Veszprém, Debrecen as big players
Among rural towns, the owners offer the most expensive apartments in Székesfehérvár, for an average of HUF 140,000 (€385) per month, which means an annual increase of 17%. Veszprém was the second, with an average of 130,000 forints (€360), then Debrecen, with 120,000 forints (€330) – the former means an 8 per cent and the latter a 20 per cent price increase.
According to January data, rent prices were below HUF 100,000 (€275) in Szolnok, Kaposvár, Miskolc, Salgótarján, Békéscsaba, Nyíregyháza, and Szekszárd.
In the case of Budapest, it can already be seen that house prices have not been able to rise faster than inflation since 2019, so the 14.5% increase was mainly due to the comeback of cheaper county seats and the dynamic price increase in the agglomeration and settlements around Lake Balaton.
Although there are always areas with fluctuating value, it is not expected that the capital-countryside housing price rates will change, so it is expected that the rate of price increase will slow down in the most popular rural locations as well, after which it will adjust to keep to the pace of inflation, added portfolio.hu.