University Students Pay A Lot For Rentals


As the University application results is about to be announced, the rush for rental apartments is about to begin, and the announcement of the dorm places which led to the doubling of the offer during this period last year.

Compared with last year’s rental prices we can expect 5-10 percent rise, which means an average 155-160 thousand Forint monthly rental price in Budapest. In the first semester, the rental fee was stagnating at 135 thousand Forints, that rose by almost 8-10 percent in June. After the student season, expected the prices will return to the first six months prices.

The smaller, newly built apartments are becoming more popular, at the same time interests in the larger apartments with several rooms have grown, especially among students. Students will pay more for rented apartments, as they usually rent out larger apartments, according to the analysis of the Otthon Centrum.

The rental price of apartments have grown by an average 9 percent in the past month compared with the same month of 2016, which is probably down to seasonality. During the summer month, the students rushing to get rentals get a good deal if they choose easily accessible outer districts, as the monthly rental can be over 200 thousand Forints in the city centre, while in outer districts the price can be even half of that. Parents need to have really deep pockets if they want to buy their children in university or college a separate apartment in the particularly popular districts of IX., XI., VI., VII., and VIII. , as in these districts the studios for rent begin at 90 thousand Forints. However, with apartments located near Universities, monthly fares are typically much higher, between 100-120 thousand Forints.

The effect of seasonality can also be found in the shortening of the renting out time. In general –depending on condition, location and price – most apartments can be rented out within 30-35 days, however in the middle of summer this time can be shortened to a few days due to the demand.

The most expensive area is the district that offers the largest sized apartments, which is the XII. (250 thousand Forints/month), the II. (215 thousand Forints/month) and the V. (207 thousand Forints/month), which is regarded to be the most expensive district. By comparison the rental of an apartment without utility costs half this much in the outer districts.

New is Cheaper than Used

The research also shows that newly built apartments cost less in rental (average 154 thousand Forints/month), than a newly renovated, but classical apartment (170 thousand Forints/month). Behind this is the one fact, that an used apartment in an older building usually has a larger floor area of about 60-65 square meters, while newly built real estate is usually spaced to be smaller, of about 50-54 square meters.

Students can get a better deal by renting a larger apartment together. In comparison with the full price of a studio, if one or two students are sharing the expenses, the price is more favourable, if they are renting out a large apartment with more people: 4-5 people can comfortably share 100-120 square meters, although the kitchen and bathroom is used by more people also. However, the expense for one person, is half or third of the cost of an individually rented studio flat. On room can be rented for an average of 50-65 thousand Forints. In 51 percent of properties there are rooms to let which cost 60-80 thousand Forints.

The rental per room is inversely proportional, as smaller apartments are advertised for a higher price. In the case of one-room apartments, the rental is an average 104 thousand Forint, while in a four-room apartment, one room can be rented for 57 thousand Forints. Calculating for 50-60 thousand Forints per person, a 4-person party can get a 3-4 room apartment for 200-250 thousand Forints in the favoured part of district XIII., or in the Palace quarter of VIII. district.

In terms of demand, students are usually looking for furnished apartments, and it is not true that they will take a run-down apartment. Especially in the case of freshmen, it is not the student, but the parent that will select the rental, which makes it particularly unfavourable if the apartment has been visibly neglected.



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