Rents Rise To New Peak In Hungary
- 19 Jul 2016 9:00 AM
The cost of rented accommodation in Hungary has risen by 5-20% in the last 12 months, and by 30-40% in some regions, estate agency Otthon Centrum found in a new report. Prices rose the most in the outskirts of Budapest, but were flat in the Sixth and Seventh Districts, where rental fees had surged in preceding periods.
Rents stabilised for similar reasons in some university towns, such as Szeged, Pécs and Gyõr.
Rent prices have probably peaked, according to László Balogh of property website ingatlan.com.
University entry results will be published next week and that is generally the period when there is a rush to rent flats, Otthon Centrum adds.
Smaller flats, especially those centrally located, are snapped up quickly by tenants.
Property market experts see high demand for homes of 80-100m2, which are more economical if a number of students share the costs.
In Budapest, the average monthly rent was Ft 140,000.
Source: Hungary Around the Clock
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