Rental Market in Budapest

C

cd31

Guest
Hi,
I read article last year in one of the sunday papers saying that the Budapest rental market was a bit soft, that there was an oversupply in some segments, does anyone have any feedback on whether this is still the case. I've been looking at properties for 100-150K in districts 5 and 6 which the vendor claims will achieve 800-850 Euro pm rental, just want to check if this compares with what other people are seeing on the ground over there
 
How much do the apartments cost? Exact location, size, and quality will determine rent, but this should all be reflected in the cost. Roughly, without knowing specifics, these figures could be okay.

For example, a 50-square-meter apartment near Parliment would cost approx. 100,000 euro and rent for approx. 320 euro/month.

If it's the historic centre of district V, you could get 80% grants for facade improvements.

J.
 
post contd.

Sorry, just saw you included a price range. In district I you might get those rents from short-term tourist rentals, but unless a district V apartment is big and luxurious (and 200k+), I think those rents are optimistic.

J.
 
I'd be very surprised if you could achieve those rents. Locals would definitely not be able to afford them. I'd say around 500-600 per month would be about right for such apts if they were 2 bedroom (usually '3 roomed' in Hungarian terminology) and you'd be renting to expats. There is still reasonable demand for a good apartment and there are lots of English speaking expats there at the minute, who might be your best bet as tenants.

If you're interested, have a look at these sites for typical buying and rental prices:

www.dunahouse.hu
www.hungarinvest.com

John
 
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