Rental market: This is the most expensive Budapest district

According to KSH-ingatlan.com’s rent index, rents rose by 0.7 percent in April nationwide and by 1.7 percent in the capital. Meanwhile, rents increased by 17 percent in Hungary and 19 percent in Budapest over the year, the real estate market portal said. So far, the most expensive district in the Hungarian capital has been District 5. However, this has changed, and another district has taken the lead. We will also show you the cheapest districts in Budapest.

People would rather rent than buy

László Balogh, chief economic expert at ingatlan.com, said that so far this year, compared to last year, interest in apartments for sale has fallen by 44 percent. At the same time, the number of apartments for rent has decreased by 22 percent. The number of searches for residential properties for sale fell by 18 percent, while the number of searches for rentals increased by 11 percent, napi.hu reports.

Significant rise in rents over the past year

Supply data for mid-May also point to a buoyant rental market. According to ingatlan.com, the average rent in Budapest was HUF 225,000 (EUR 600), compared to HUF 220,000 (EUR 587.64) a month earlier and HUF 180,000 (EUR 480.79) a year earlier.