Home Rental Rates in Hungary Down Last Month
- 26 Jan 2023 2:23 PM
Home rental rates in Hungary fell for the first time in two years on a monthly basis in December, down 0.7% at a national level and sinking by 0.9% in Budapest, according to data compiled by the Central Statistics Office from listings site Ingatlan.com.
On an annual basis, rents were up 20% on average in December and were 22% higher in Budapest.
The monthly rental rate in the capital was in the Ft 140,000-250,000 range, with an average of Ft 200,000.
Outside Budapest, monthly rental rates were highest in Győr, Székesfehérvár, Tatabánya and Veszprém at Ft 150,000 and lowest in Salgótarján and Békéscsaba at Ft 90,000.
Nominal rents were still much higher than a year earlier, but in real terms they have been falling since August, leading to a 13% drop nationally and a 15% decline in Budapest compared to the pre-pandemic peak in January 2020, Ingatlan.com analyst László Balogh pointed out.
The number of ads has fallen significantly, down by more than 20% from both 2020 and 2021.
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