Unexpected turn on Hungary’s rental price market

Based on the latest data, rental prices started falling in Hungary but not in Budapest. Yet.

Rental market changes in Hungary

According to index.hu, Otthon Centrum’s latest data shows that rental prices started to fall in the Hungarian municipalities. In Budapest, the pace of price increases slowed down.

In the last three months, the average rental price of brick apartments in Budapest reached HUF 242 thousand (EUR 634.5). That is only 3% higher than in H1 in 2023. Meanwhile, in the cities above 100,000 inhabitants, the average rental price is HUF 168 thousand (EUR 434), which is 1.7% lower than in H1 2023.

Based on the data of Otthon Centrum, Budapest’s downtown is the most expensive. The average rental price reached HUF 359 thousand (EUR 926) there, which is unaffordable for most Hungarians. Meanwhile, in the outer districts, the average rental price is HUF 177 thousand (EUR 456), which is more than half of the Hungarian average net income per person.

Read also:

• Biggest fall in real estate prices since 2009 in Hungary – Read more HERE
• Government decision turns Hungarian property sector upside down