Students further increase large demand in residential letting in Budapest

After Universities and Colleges informed students who had received places in 3rd level educational institutions from September, internet searches for residential rental accommodation in Budapest have increased by 22% – reported by Otthonterkep, Hungarian property advertising website.

In certain districts of Budapest rental prices per square meters have increased by 30% in the last 18 months. However square meters are not as important for students as number of bedrooms and location.

Highest prices need to be paid for the studios and one bedroom apartments (25% of the advertised properties fall into this category), they average cost 112,000 HUF (360 EUR) / month.

A room in a two bed apartment would cost average 89,000 HUF (287 EUR) / month. Then the more room the apartment or house has the cheaper it gets, e.g. a room in a 6 bed house costs 64,000 HUF (206 EUR)/month.

Budapest district mapAbove prices are average, some preferred locations could cost twice as much while other places could be much cheaper. Buda and the city center are the most expensive parts of the capital,  a room could easily cost 90-100,000 HUF (290 – 322 EUR)/month. Districts VIII., X. and XIV. are cheaper but still very close to the city center so these locations could satisfy most students, a room roughly costs 60-70,000 HUF (193-226 EUR), while further out in Pest the average price is 50,000 HUF (161 EUR).

Most students who can’t afford to rent alone in the city center will likely try and rent a room in 3-4 bed houses which are much cheaper.

Source: www.portfolio.hu

 

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