Rental prices in Budapest continue to rise, though at a slower pace than in previous years. According to Cordia’s experts, there remains a significant difference between newly-built and older properties. While the median rent for the former stands at HUF 330,000, older apartments reach HUF 295,000, and homes rented directly by private owners average HUF 255,000. Here are the reasons behind these differences.
One explanation is that older apartments are often larger, which has driven faster price increases in recent months. However, in terms of competitiveness, newer, modern properties with efficient layouts have proven to hold their value better over time. In the Corvin Quarter, for example, one to two-bedroom apartments command rents 10-20% higher, while larger units achieve even 30-50% higher prices compared to other parts of the district.
For newly built homes in premium locations, continued stability and moderate rent growth can be expected. Tenants are also willing to pay a premium for green surroundings, panoramic views, or waterfront locations.
Read the full article at piacesprofit.hu here, in Hungarian.
