More and more people with savings are buying to rent in order to take advantage of growing demand for rented properties.

In 2017, 5.2% of households rented housing on the market, while in 2011 only 3.6% did, according to the Central Statistical Office.

The proportion of non-market tenants such as those in social housing remained steady at around 3.5-3.8%.

Meanwhile, property ownership for own use declined from 87.6% to 85.2% in the same period.

Property rentals are doing the briskest trade in Budapest and Hungary’s larger cities, where the proportion of rented housing is 8% and 8.4%, respectively.

Republished with permission of Hungary Matters, MTI’s daily newsletter.