Shocking! Rental prices in Budapest rose 20 pc in only one year

Rental prices in Hungary’s capital, Budapest, continued to increase even in June. Compared to 2021 June, the rise is more than 20 percent.

According to Index.hu, the average rental price for real estate in Budapest reached HUF 173,000 (EUR 427) per month in June. Based on the data of a social rental website, people could follow price increases thanks to the growing wages. In Budapest, for example, people look for apartments for an average of HUF 166,000 (410 EUR) per month. That is a 23 percent increase compared to last June.

However, experts say that the double-digit inflation and the national bank’s raised benchmark base rate will cause

fewer investors to put their money in the real estate sector.

As a result, there will be fewer apartments offered for rent. That means the rental prices will go up, so the difference between the subtenants’ offers and the tenants’ expectations will grow. Therefore, the tension between the two sides will also rise.