Are you looking for a property near the universities of Budapest? Useful information


On July 21, the thresholds for admission to higher education will be announced. This means that the main rental market season will officially begin. After two years of lockdown, this year’s rental market could go even faster. Experts say it’s worth starting your search for the perfect apartment early. The expert from OTP Real Estate Point analyzes the current situation of the rental and apartment market in Budapest. Keep reading below for more details.

Hungarian real estate turnover

One week from the end, nearly 100,000 students are applying for higher education this year. They will find out if they can continue their studies in Budapest from September. The traditional summer lull was followed by a big rush due to the pandemic, writes TB. The Budapest regional manager of the OTP real estate department expects that despite the constant increase in rents, the end of summer and the autumn rental season in the capital will lead to an intense increase in turnover and further price increases.

The director says the following. “Compared to last year, the rental market in Budapest has recovered markedly, with rising rents and steadily increasing demand. We are already witnessing the arrival of future university students, even if the real end-of-summer rush is not yet here. Additionally, with the upsurge in tourism, short-term rentals in the city center have now also been revived. With a significant increase in demand, landlords who have moved from short-term to long-term rentals are also starting to return to the market.

Recent statistics from the Hungarian Central Statistical Office (KSH) also show that everything seems to be back to normal in the capital. In May, the pace of rental growth accelerated compared to April. Average rents in the capital increased by 21% in May 2022, in line with the national average for the same period in 2021. More tellingly, rents in the capital also increased by 5.8% compared to January 2020, the peak period before coronavirus. epidemic.

Rising prices in Budapest

Compared to April, average rents in the inner and transitional districts of Pest and Buda Hills rose the most. Compared to May 2021, the inner districts of Pest recorded the largest increase. Even though inner neighborhoods have also seen the biggest drop in rents amid the coronavirus outbreak.

According to Csaba Laczi, an increase in demand and prices, as well as changes in preferences can also be observed. “As the epidemic situation has intensified, the time spent in four walls has also increased, likely leading to a shift to larger apartments. This trend has reversed this year and the popularity of smaller one-bedroom apartments and a half increases again.

Average price per square meter around Budapest Folk Universities

OTP Lakóingatlan Értéktérkép revealed the average price hike around universities in Budapest. According to them, the increase near Eötvös Loránd University, Budapest University of Technology and Economics, Semmelweis University and Budapest Corvinus University was 9-15%. As a result, the average price per square meter in the 11th arrondissement is 2110 EUR. That is 1987 EUR in the 9th and 1720 EUR in the 8th.

Mr. Laczi said that buying real estate in Budapest remains a good investment option. Moreover, due to the weakness of the forint, it is even more profitable for foreign investors. We wrote about this in THIS article.

Source: vg.hu, ksh.hu

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