Monthly Rents Up 0. 5% in Hungary in August

Rents continued to rise in August: they increased by 0. 5% nationwide compared to the previous month, while in Budapest they remained unchanged, according to the Central Statistical Office (KSH) and the ingatlan.com rent index.

Data published on the KSH website show that rents in August rose by 9.9% and 9.1% year-on-year nationally and in Budapest, respectively, and by 113% and 102% compared to the base period of 2015.

The 11% increase in the outer districts of Pest, on the other hand, exceeds the average for the capital. This is due to tenants compensating for high rents in the inner city districts by moving to cheaper districts further away.

They added that in the first eight months of 2024, 92% of the advertisements observed were for apartments in multi-apartment buildings, with the remaining 8% being for single-family homes. In the January-August period this year, 44% of the listings observed nationally and 43% in the capital were from private individuals.

According to data from ingatlan.com, as the rental season drew to a close, more than 16,000 houses and apartments for rent were being rented by owners nationwide, up 18% year-on-year.

It noted that the increase in supply suggests that tenants have more choice in the market. In the longer term, the competitive situation on the supply side could even lead to a stabilisation of prices and a slowdown in rental inflation.

Translated with DeepL.com (free version)