Rental prices increased drastically around Lake Balaton
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After a brief period, prices in the rental market once again began to increase in the first months of 2023. Renting real estate in the vicinity of Lake Balaton is getting especially expensive.
As we have previously written, the turnaround in the rental market was short-lived in Hungary, as prices grew in the first month of 2023. Hirbalaton.hu reports the latest change in rental prices around Lake Balaton based on data from the Central Statistics Office and ingatlan.com.
For a brief period during the last two months of 2022, rental prices began to decline In Hungary. This trend though already changed in January 2023, as average rental prices increased by 1.7 percent.
László Balogh, chief economist at ingatlan.com, says that part of the explanation is that some of the students studying in higher education in cross semesters have entered the market as renters.
The leading expert also says that people postponed buying a home because of high mortgage rates. Instead, they moved into rented accommodation, which meant that there was extra demand in the rental market.
Hirbalaton.hu listed the latest changes in the rental market around Lake Balaton, where rental prices increased drastically in the last year.