Renting in Budapest has never been so expensive, the big rush is coming soon

The average monthly rent in the capital exceeds HUF 200,000 (EUR530), on top of which there are utility bills and the deposit, which now corresponds to 2-3 months’ rent.

444 reported that the rent fees in the Hungarian capital are higher than ever. The university admission thresholds are drawn this Wednesday, therefore, a big fight for rents will start immediately. Here is what to expect on the rental market.

Renting in Budapest

According to the data provided by Duna House, the average rent in Budapest in July is over HUF 225 thousand (EUR 590). However, this price depends on the flat’s location and on the number of rooms. For instance, you can get your hands on a flatlet for HUF 150-170 thousand (EUR 390-450), a two-bedroom apartment for HUF 250-350 thousand (EUR 660-920), and a three-bedroom flat for HUF 350-500 thousand (EUR 920-1,320) in popular areas in Budapest. Owners usually ask for a deposit of two months’ rent. Having said that, if you also take pets, the owner will most likely ask for a deposit of three months’ rent. When choosing a rental, it is wise to also consider the energy parameters of the apartment. As you must pay the utility bills on top of the rental fee.

Duna House suggests tenants and landlords sign a written tenancy agreement to avoid any future misunderstandings. To ensure further safety, it is better to have it notarised, so that it is an authentic instrument and both parties can easily enforce it.

The most expensive districts

According to the data of ingatlan.com, the average rental fee in Budapest was HUF 240 thousand (EUR 630) in July. Districts III., VIII., XI. és XIII. had the widest selection of apartments to rent. The average rental fee in these districts was about HUF 220-250 thousand (EUR 580-660). The most expensive areas in Budapest are districts I., II. and V. with an average rental fee of HUF 300-368 thousand (EUR 790-970). When renting in Budapest, it is advised to consider the location of the flat, how far it is from the university or workplace, and what the average utility fees are.

Rent in larger university towns

It was also pointed out that rent in the larger university towns is rather expensive. In Győr, the average is HUF 185 thousand (EUR 490), in Veszprém HUF 172 thousand (EUR 450), and the same goes for Debrecen. However, there are cheaper university towns as well. The average rent in Pécs is HUF 140 thousand (EUR 370), and in Szeged HUF 135 thousand (EUR 355), while in Miskolc it is only HUF 100 thousand (EUR 265). Landlords ask for a deposit equivalent to two months’ rent and one month’s rent in advance. In larger university towns, it can mean a lump sum payment of more than HUF 500 thousand (EUR 1,320) to tenants. Therefore, you should be careful when looking for an apartment to rent.