Budapest Housing Rents Up 20%

  • 16 Jul 2015 9:00 AM
Budapest Housing Rents Up 20%
Housing rents are up 20% in Budapest’s city centre and near the universities compared to the first half of 2014, business daily Világgazdaság said. Outside of the capital, rents are practically unchanged in East Hungary, but prices in the West, particularly in the environs of Győr, Sopron and Szombathely, are now close to those in Budapest, Attila Déry, analyst of real estate broker Otthon Centrum told the paper.

This is partly due to recent big investments in the area - such as the Audi plant in Győr, but also because of the workers commuting to Austria, he added, attributing the higher demand to increased consumer confidence.

Another reason for the increased rental demand in central Budapest is that many owners there are renting out properties for the short term, providing a kind of bread-and-breakfast service to tourists.

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