The slowdown was already visible in September, and in October the national average rents decreased by 0.5 percent compared to the previous month. And in the capital, they grew by 0.1 percent, essentially stagnating.
The rate of annual inflation slowed to 8.5 percent nationally from 9.6 percent seen in September, and in Budapest it became 9 percent in October, while it was 9.9 percent a month earlier.
The national rent decrease in October can partly be explained by seasonal effects. Over the past few years, it has happened several times that after the end of the rental season, the dynamics of the price increase temporarily slowed down. Another, perhaps more important, factor is that tenants find it difficult to keep up with the rapid increase in prices that has occurred in the past period. In other words, average rents have reached their ceiling, taking into account income levels.
– László Balogh, the leading economic expert of ingtalan.com, evaluated the latest data.
According to ingatlan.com, the average rent in Budapest is HUF 250,000. The most expensive district is still the II., where the average rent is HUF 340,000. And the cheapest part of the city with 160 thousand forints is XXIII. district. In the districts that are the hits of the sublet market, i.e. those that offer the widest selection, in the XI. and XIII., averages of HUF 263,000 and HUF 250,000 characterize the offer.
On the market outside the capital, Debrecen is still the most expensive big city: an average rent of 230,000 HUF is expected for those looking for an apartment to rent. Looking at the other university towns, the average rent in Győr is HUF 200,000, in Szeged 160,000, and in Pécs 150,000. In comparison, in Miskolc it is only HUF 115,000.
Source: www.economx.hu
