According to the rent index of KSH-ingatlan.com, in April, rents increased by 0.7 percent nationally and by 1.7 percent in the capital in one month, in one year nationally by 17 percent, and in Budapest by 19 percent, the real estate portal told MTI.
László Balogh, the leading economic expert of ingtalan.com, said that compared to last year, interest in apartments for sale decreased by 44 percent, and the number of apartments for rent decreased by 22 percent. The number of searches for residential properties for sale fell by 18 percent, while those for rent increased by 11 percent.
The supply data from mid-May also point to a lively sublet market. According to data from ingtalan.com, the average rent in Budapest was HUF 225,000, compared to HUF 220,000 a month earlier and HUF 180,000 a year earlier.
Among the county seats, Veszprém leads the list of the most expensive rents with 165,000 forints, followed by Szombathely with 155,000 forints, followed by Debrecen, Székesfehérvár, Győr and Tatabánya, all with 150,000 forints.
More than 30 percent of real estate purchases in Debrecen are for investment purposes.
Based on Duna House’s data, 27 percent of the buyer’s motivation for purchasing real estate last year was the intention to invest nationally, while in rural areas this rate was 23.5 percent, Duna House real estate broker wrote in a statement sent to MTI.
Benedikt Károly, head of PR and analysis at Duna House, said in the statement that investors in the eastern part of the country preferred Debrecen, where 46 percent of sales in 2022 were purchased not for their own purposes.
The proportion of purchases with the intention of investors is outstanding in those cities where there are larger investments and higher education institutions, the expert concluded.
The real estate agent indicated that among the county seats, the sellers in Debrecen asked for the most, nearly HUF 740,000 per square meter, for the apartments. The average amount spent on real estate investment was nearly HUF 40 million, and the average property size was 53 square meters in Debrecen last year.
The increase in sublet prices is caused by drastic demand. The city of Debrecen is constantly developing, many new companies are coming to the city. The new workforce needs apartments. In addition, no new properties are being built. In this way, the existing subleases are rented at high prices by the incoming workers.
