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Is Decline in Home Rents Over?

• 25 May 2021 10:49 AM
• Hungary Around the Clock

Home rental rates were down 0.3% year-on-year in April nationwide, on average, but edged up 1.3% from March, the first monthly growth in 12 months.

This is according to the home rent index compiled by the Central Statistics Office and Ingatlan.com.

Home rental prices fell in each month since April 2020, when rates plunged due to the pandemic. 

Industry expert László Balogh of Ingatlan.com noted that the declining trend could reverse.

Home rental prices in Budapest averaged Ft 135,000 per month in mid-May, rising from Ft 130,000 a month earlier, according to data from Ingatlan.com.

This recent increase was due to the arrival of newly built flats on the market, Balogh observed.

Some owners are keeping their homes off the market in expectation of stronger demand and possible higher prices in the summer period, he added.

One reason for this is that University students generally begin to look for rented accommodation in July.

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Since 1995 Hungary Around the Clock has proven to be one of the most comprehensive sources of daily English-language news about Hungary. It covers ongoing domestic politics and foreign relations, as well as business and economic matters. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.

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