According to the February rent index from KSH-ingatlan.com, national rental prices rose by 0.6% compared to the previous month, while rents in Budapest fell by 0.1%. This marks a significant slowdown compared to January, when nationwide rents increased by 1.6% and Budapest rents by 1.3%, the real estate portal informed MTI on Wednesday.
Year-on-year, both national and Budapest rents increased by 5.4% in February. In real terms, national rental prices are 15% higher than in 2021.
The statement from ingatlan.com noted that current rent trends favor tenants. While rents rose slightly nationwide by 0.6% in February, Budapest saw a 0.1% decrease, indicating near-stagnation in both markets. Compared to the same period last year, both the national and Budapest markets recorded a 5.4% increase. The February changes suggest a further slowdown in rent growth, as tenants and landlords experienced 1.6% and 1.3% monthly increases in January, respectively.
Long-term indicators show that rental prices have risen by 68% nationally and 69% in Budapest since 2021. However, the inflation-adjusted real rent index tells a milder story: tenants now pay 15% more in real terms than five years ago.
László Balogh, lead economic expert at ingatlan.com, highlighted that the rental market is under pressure, as the Home Start Program continually draws demand away. This trend is particularly visible in Budapest, where rents fell in four of the past six months compared to the previous month. These trends, however, increasingly benefit tenants, as rents nationwide and in Budapest remain nearly the same as last August, before the program’s launch.
According to ingatlan.com data, the median rent in Budapest at the beginning of March was HUF 260,000. Among the most popular districts, District XI averaged HUF 265,000, District XIII HUF 260,000, and in the central districts, District VI reached HUF 290,000. Districts VII and VIII both had an average of HUF 250,000, while outer districts X, XIX, and XXIII offered HUF 200,000.
Looking at university towns, Debrecen remains the most expensive, with a median rental price of HUF 220,000. It is followed by Győr at HUF 200,000, Székesfehérvár at HUF 190,000, and Szeged, Veszprém, and Szombathely each at HUF 180,000. Pécs and Miskolc are lower, with HUF 165,000 and HUF 130,000, respectively, the portal reported.
(MTI)
