Rental prices in Budapest continue to rise steadily

Due to the ever-increasing prices, renting an apartment has become a luxury. Nevertheless, the majority is still willing to pay the high rental prices in Budapest if the apartment has good parameters. Data show that many people prefer to rent real estate in the current uncertain market environment rather than purchase a home. 

Rental prices in Budapest are skyrocketing

Depending on location and equipment, apartments in Budapest can be rented out up to HUF 100,000 (EUR 265,95) more expensive, reports Pénzcentrum. According to Zoltán Gadanecz, the founder-owner of GDN Real Estate Network, the current trend clearly shows that people looking for rentals strikingly outnumber those who consider home purchases in Budapest. This may be due to the fact that many people don’t want to risk taking out a loan.

“For a long time, we kept being warned how expensive loans are. Interest rates skyrocketed last year, they were already over 10 percent at the end of the year, but since then a marked decrease has started. We are now at 8 percent interest rates, which already belong to the healthy category, but it takes time until this information reaches the masses. This is one of the reasons why the majority consider renting to be on the safe side,” he said.