Budapest Rental market

[Madangan]

Hi all,

My apartment which will have been let for just over 2.5 years to same Tenant will be coming on the rental market again inFebruary /march.

As a pessimistic sole I am assuming it will be hard ro rent(no longer brand spanking new,other apartments in same block coming vacant at same time, world economy in shreds etc..)

The apartment is a one bed in District XI, was getting €550 a month(expecting less now)

So my question is..what is the market like right now,am I right to be pessimistic or are there any positives? Any feedback welcome particulary from those with knowledge of the market

 

[budapest]

550 Euro is at the high-end, particularly at the moment, for a one bedroom apartment. Where about in District XI? New build properties are in large supply at the moment and owners are typically having to reduce rents. You might also find it worthwhile to drop over around that time and make sure that the apartment is presented as nicely as possible. Add a few designer touches where possible to make it stand out.

 

[Madangan]

Thanks for that advice. Since posting I have ben told that existing tenant might stay on for a while but I wont know till the new year but fingers crossed! To be honest I have been delighted with the rent acheived till now but have prepared myself for a drop

 

[investpest]

Hi,

My one bedroomed apartment in district 13 was completed on 1st September i.e. fully furnished and let from the 4th September. I didnt achieve anything like some of the rental figures being bandied about by some rental companies, but then i dont believe that these figures are possible either and that is why so many properties are lying empty! I think if you are realistic and your property is in good nick then you should be ok, but then i'm no expert!