Significant increase in property rentals at Lake Balaton

The demand for rental houses and holiday homes near Lake Balaton and Lake Velence has increased significantly this year. Even though the first four months of the year hardly differed from last year’s results, in May and June 70% and 50% increase could be observed.

At the beginning of this summer, the demand for holiday homes and properties for rent for a longer time (at least one or two months), next to Lake Balaton and Lake Velence, has grown significantly. 

According to the latest summary of the real estate portal ingatlan.com, rents in the settlements of Lake Balaton in the summer season can exceed EUR 580 (~HUF 200,000) per month.

After easing curfew and travel restrictions in May, property market at Lake Balaton and Lake Velence exploded. Even though the first four months of the year hardly differed from last year’s results the number of people interested in renting holiday homes and houses increased by 70% in May and by 50% in June compared to a year earlier – revealed László Balogh, economic expert of ingatlan.com. He also added that this extra demand could be explained by the fact that many people were looking for domestic settlements instead of foreign destinations due to the pandemic. 

For a family or group of friends, renting a holiday home for a whole month is not much more expensive than booking accommodation for one or two weeks abroad.

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On the northern shore of Lake Balaton, in Veszprém county, the average monthly rent of holiday homes and properties was EUR 725 (~HUF 250,000) in June and EUR 695 (~HUF 240,000) in July. As the Hungarian news portal Origo reports, property prices in Zala County are lower; holiday homes are offered for a monthly rent of EUR 290 (~HUF 100,000). In the lakeside settlements on the southern shore, in Somogy county, properties were available for EUR 580 (~HUF 200,000) per month in June, and EUR 638 (HUF 220,000) per month in July. 

In the case of Lake Velence, the average monthly rent of holiday homes in Gárdony was EUR 377 (~HUF 130,000) in June, while it increased up to EUR 623 (~HUF 215,000) per month in July.

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Source: origo.hu