Budapest's Leading Property Management Company
Analysing website traffic data of the past few weeks, figures are clearly showing a growing interest in real estate. According to the pure numbers, demand for Budapest apartments for rent returned to the pre-crisis level or even exceeded it. However, increasing number of website visitors is not equivalent – unfortunately - to serious customers. A lot of people are just surfing through the listings to see how prices are changing.
The good news is that there are already serious tenants on the market too who wish to move into a new apartment this time. Since main travel restrictions are still in place, mainly local Hungarians are the potential long term tenants. There are some expats too, who have been living here for years and now looking for a new home in Budapest. Currently, there is a huge supply of quality properties on the market. Many of them are way under the pre-crisis prices, so the competition is high for the new clients.
Sticking to the pre-crisis rental fees is pointless. Because of the quality downtown apartments arrived from the holiday rental market you can expect even 10-40% drop in rental fees depending on the location, apartment type, etc. Ask your real estate expert to give you a realistic valuation based on the specifications of your particular apartment. Flexible property owners are able to win the race.
Property managers can do a lot for Landlords helping them to keep their existing tenant in the apartments or to find a new tenant. A management company with inhouse letting team, exclusive databases, good corporate contacts, other referral options can be a big advantage during this extraordinary period.
Read our former article about pricing: