Continuous price increase can be experienced in Budapest’s rental market. Let’s see which are currently the cheapest and most expensive districts in the Hungarian capital.
According to the latest data, the average rent in the capital in February was EUR 417 (~HUF 150,000). This does not show any change compared to the beginning of the year. However, the average rent in the city center has increased from EUR 680 (~HUF 245,000 HUF) to EUR 694 (~HUF 250,000) since January.
In addition to the city center, the average rental price also shows an increasing tendency in the 1st and 2nd districts of the Hungarian capital.
Here the average rent is close to EUR 556 (~HUF 200,000). This amount takes more than half of the average wage in Budapest which was almost EUR 975 (~HUF 351,000) at the end of last year.
Compared to January, the average rent in the 23rd district which used to be the cheapest district, increased by EUR 42 (~HUF 15,000) to EUR 347 (~HUF 125,000) in one month. As a result of this price increase,
Budapest’s 10th district (Kőbánya) offers the lowest rental price, numerically EUR 334 (~HUF 120,000) on average.
As the Hungarian news portal hvg reports, rental prices hit a low in January 2021 which might be a reason why they have been rising steadily since then. In addition, the rent index has reached a new high, with rents 46.3% higher than in 2015 on average, an unprecedented level – said László Balogh, a chief economic expert at ingatlan.com.
Not surprisingly, rental prices in the rural towns are much lower than Budapest’s average rent. Veszprém, Debrecen, Székesfehérvár and Tatabánya top the list, with average rents of EUR 353-361 (~HUF 127-130,000). These cities are followed by Győr, Szeged, Eger, Szombathely, Pécs, Kecskemét and Szolnok where we can rent an apartment for EUR 278-333 (~HUF 100-120,000). Rentals were cheaper than EUR 278 (~HUF 100,000) in Békéscsaba, Miskolc, Nyíregyháza, Kaposvár. The lowest rental prices can be found in Salgótarján and Szekszárd, with prices of EUR 195-250 (~HUF 70-90,000) in these cities.
The steady price increase in the rental market is making life drastically more difficult for people living in rented apartments. According to Világgazdaság, besides Budapest, only Győr-Moson-Sopron county was able to get above the national average of EUR 792 (~HUF 285,000), where the average wage rose above EUR 834 (~HUF 300,000) for the first time at the end of last year. In the other counties, net monthly earnings ranged between EUR 550-784 (~HUF 198-282,000). The worst situation is in Szabolcs-Szatmár-Bereg county, where the average net salary is still below EUR 556 (~HUF 200,000).
Source: hvg.hu, vg.hu