According to experts, current high rental rates may moderate. This is not only due to the growing supply but also to the favorable loan rates and the excessively high prices. Expanding supply can lower current prices, tenants cannot afford to pay overpriced homes, and in the current favorable credit environment, many people would rather pay for their homes than the monthly rental fee.
Therefore, owners who do not want to wait a long time with the release of their home will have to reduce their intended demand. It is also worth noticing the need to reduce it as soon as possible because if the apartment is waiting in the property market for only one to two months, there is a loss on it that would have been reduced in case of a lower rental fee.
There has been a turn in the composition of tenants in the last few years too. The summer was usually about the rush of university and college students, but today many people do not delay the quest of apartments until summer. Families, employees are looking for apartments just as much as students, so the owners cannot count on extreme demand in this area.
In early May, the average monthly rent for apartments less than 140 square meters of floor space in Budapest was 149 thousand forints - this average is extremely high compared to the past period. However, in the capital, there are large differences between districts, but there is no longer a district where the average monthly rent would be less than 100 thousand forints – according to the analysis of ingatlan.com.
Metro line 3 remains an attractive area for people looking for apartments. In the outskirt district near metro line connection, a 39-square-meter apartment can be found around 105 thousand forints, farther away from public transport connections the monthly rent of similar homes is 80 thousand forints. However, the monthly rent for larger apartments in these districts is also around 120-130 thousand forints.
The prices rise continually towards the capital's inner districts, flats are available at around 180-200 thousand forints depending on the housing size, condition, and location.