Rental prices in Budapest: despite the fifth wave, further rents are expected to increase!

Rental prices continued to rise in the rental housing market in Budapest in December, and this trend will continue in 2022, according to’s latest rental market analysis and forecast for 2022. Following the spectacular crash of 2020, new waves of the coronavirus epidemic have had less and less of an impact on prices, and by the end of 2021, the market has been able to decouple itself from the pandemic.

At present, an average of HUF 157,000 is requested for an apartment in Budapest, and in contrast to the continuous fall in prices last winter, a further increase in rents is expected, despite the onset of the fifth wave of epidemics. If more apartments return to the Airbnb market in the summer, apartment prices in the capital could reach the pre-crisis average of HUF 170,000 in the second half of the year. The only limit to the price increase is whether the solvency of the tenants can keep pace with the increase.

The Budapest rental market gradually strengthened in 2021 after the low point in March, but the decline that had occurred almost two years ago due to the pandemic has not yet been fully reversed. A clear sign of recovery is that the rise in rents that began in March last year is continuing with strong traffic, and this trend is constantly resisting new waves of epidemics.

Moreover, the capital’s rental market soared in December, surpassing the previous month as well, so that by the end of the year the average rent in Budapest reached HUF 157,000, according to the latest rental market analysis, which also includes an annual forecast. community apartment search platform. At the same time, demand also strengthened minimally compared to November, but is less and less able to follow the price increase.

In 2022 a forecasts further rising rents in Budapest. However, while last year the recovering economy, strengthening solvent demand and rising real estate prices caused an increase in rental prices, this year the rise in the central bank base rate may also contribute to this, which will also affect landlords’ yield expectations.

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If tourism in the capital continues to normalize in the summer and more apartments return to the Airbnb market, thus narrowing the long-term supply market, rents in Budapest could reach pre-crisis levels by the second half of the year, averaging nearly HUF 170,000. The most recent example of such high prices was in January 2020. Although this upward trend may slow down in a month, the community rental search platform does not expect a significant correction within a year. The rise in rents to pre-crisis levels may have been curbed mainly by tenants’ solvent demand, and signs of this have already been seen in the past month.

Source: Ingatlanhírek by

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