These are the latest changes in real estate and rental prices in Hungary
A significant increase is expected in real estate and rental prices in Hungary. They are expected to reach the pre-pandemic period levels.
Rental prices are expected to skyrocket in the near future. Based on various forecasts, rental prices will rebound to the same levels as before the coronavirus pandemic. – writes 24.hu. The news site also reported that after prices fell in 2020, prices started to rise again. In December, the rent was 157,000 HUF (440 EUR) on average. This price increase should continue to grow.
Airbnb can also influence the price of rent.
If tourists return to Hungary, Airbnb real estate will be in demand. This may affect rental prices in Budapest. It is possible that the price of rent will be the same as before the pandemic. This means that on average the rent could reach 170,000 HUF (476 EUR) in the future.
Rising prices seem to be a trend. In 2021, there was an annual price increase of 11% nationally.
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Rental prices in November were more than 42% higher than in 2015. The peak was reached in January 2020, with an indicator close to 46%. In northern Hungary, the price of an apartment has increased by 12%. In the rest of the country, and in Budapest, for example, the indicator increased from 7 to 10.5%.
As Daily News Hungary has previously reported, rental prices have risen steadily across Hungary over the past 10 months. In Budapest, district V is the most expensive, where the rent is 240,000 HUF (652 EUR). District XXIII is the cheapest, with an average rent of 290 EUR.
Outside of the Hungarian capital, Veszprém used to be the most expensive, but now that has changed. Székesfehérvár topped the list.
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As prices rise, some people may find that buying real estate as an investment is much more beneficial. This can be for two reasons. On the one hand, people pay for their own apartment instead of lining the owner’s pockets. For two, if someone can afford it or is eligible for a loan, they can buy real estate as an investment. This means they can even rent it out and use the money to pay off the loan.
As we wrote earlier, real estate in some settlements is extremely cheap as opposed to Budapest or other big cities. In some villages such as Kevermes (Békés county), Kötegyán (Békés county), Szeremle (Bács-Kiskun county), Fábiánsebestény (Csongrád-Csanád county), Péterhida (Somogy county) and Egyek (Hajdú- Bihar) property prices can be as low as 10,000 HUF (27 EUR). If this price seems attractive, the chances of finding tenants are much higher in large cities. To learn more about the cheapest and most expensive options, click HERE.
Source: 24h, DNH