Where Is It Worth to Rent an Apartment in Budapest?


back

Apartments for sale and for rent are both more and more in demand. Besides university and college students mortgage debtors who had to give up their properties are also looking for an apartment to rent. Thanks to all these at the most popular areas rents went up.

Rents Are the Highest in the City Center

Studying the data of Otthontérkép it is easier to decide where it is worth to buy and to rent an apartment in Budapest. The city center – the 5th, the 6th and the 7th district – and Buda – the 1st, the 2nd and the 12th district – have the highest rent, about HUF 2600 per square meter on average. The 9th, the 11th and the 13th district are also popular: the rent here is about HUF 2500 per square meter. The 3rd, the 8th and the 14th district are cheaper: the rent is HUF 2000 per square meter.

Rent or Buy?

But in certain districts buying an apartment can be a better decision. In 2014 an apartment cost HUF 323 thousand per square meter on average, and the rent was about HUF 2700; the rent-to-price ratio is 1 to 120. Thus in those districts, where this ratio is lower, buying an apartment is a better choice. The rent-to-price ratio is the highest in the 2nd and the 12th district; thus here we should rent instead of buying.

Otthontérkép has currently near 1700 properties listed for rent in Budapest. They are preparing their anaylis based on the listed properties which cannot give a perfect picture of Budapest's property market, but gives useful information. These numbers can be different if we study only those apartments which are owned by foreign investors, furnished and renovated for rental purpose.



Source:http://www.resourceinfo.hu/hu/cikk/lakas/37395.html

 

Subscribe to Our Budapest Property Market Newsletter