Budapest Rental Prices Hit Record High, Opposite Trend Seen in Other Cities
Rental prices in Budapest have seen a continuous rise, with the average monthly fee now exceeding HUF 250,000 (EUR 630), marking a significant psychological barrier for both the capital and Hungary. However, the trend seems to be the opposite in rural cities, where rental prices have actually decreased following last year’s notable surge.
According to a report by 24.hu, the average monthly rental price for brick apartments in Budapest has now reached HUF 259,000 (EUR 650), showing a 9.9% increase compared to last year. In contrast, in rural areas, the average rental price has fallen to HUF 160,000 (EUR 400), which is 4.6% lower than in 2023. Last year witnessed an extraordinary 33% average price rise in rural Hungary.
The most expensive district to rent in Budapest is the 6th district, where the average rental price stands at HUF 339,000 (EUR 860). Following closely behind are the 2nd and 5th districts with average rents of HUF 335,000 and 292,000 (EUR 850 and 740) respectively. The 3rd and 11th districts in Buda also feature prominently on the list of high rental prices in the capital.
On the Pest side, prices are generally lower, with the average rental price in the 7th and 8th districts at HUF 225,000 (EUR 570). The outer districts of Budapest offer the cheapest rental prices, ranging from HUF 180,000 to 200,000 (EUR 450-500).
The article also highlights that prices for larger apartments are more affordable in the outer districts of Budapest, where prices have increased by 5-20% in most areas. However, the price rise has been most significant for small, one-room apartments, which have seen a 20.9% increase.
The difference in rental prices between the city center and outer districts becomes more pronounced for two- and three-room apartments. The average rent for a three-room apartment in the city center is HUF 330,000 (EUR 830), compared to just HUF 213,000 (EUR 540) in the outer regions of Pest.
In rural Hungary, cities like Debrecen, Győr, and Székesfehérvár, which are centers of the Hungarian automotive industry, have higher average rents around HUF 200,000 per month. On the other hand, cities like Szeged, Pécs, and Kecskemét offer much more affordable rental prices.
Overall, renting an apartment in panel buildings tends to be cheaper both in Budapest and rural cities, with average prices ranging from HUF 125,000 to 200,000 (EUR 450-500) per month.
