A surprising trend in the sublet market in Budapest – Forbes.hu
The options for those looking for an apartment in Budapest were spectacularly different from expectations: in fact, landlords asked HUF 192,000 on average, while tenants were looking for an apartment for only 157,000 HUF. This summer, students entering higher education and looking for housing did not drive up the asking prices either.
According to the previous forecast, the market opened in August on the sublet market in Budapest, according to Rentingo.com’s latest sublet market analysis, which was also sent to Forbes.hu. The drastic difference is that renters have increased their real estate prices in line with double-digit inflation and higher government bond yields, while those looking for an apartment have less and less left in their wallets due to the rising cost of living. According to the sublet searcher, this situation requires more and more attention from landlords to find reliable and solvent tenants.
The university students didn’t raise the prices either
According to the Rentingo image, while tenants were looking for 5.3 less compared to July, which was an average of HUF 157,000, landlords showed 5.7 apartments, so they were asking an average of HUF 192,000 for their rental properties.
Such a large difference between landlords and tenants was last seen two and a half years ago, even before the coronavirus epidemic.
Although this year it was also expected that students entering higher education and looking for housing would drive up demand prices in the summer, this year this did not apply, and the trend of students looking for apartments from abroad did not significantly change. With the demand and supply side moving so far apart, landlords have to make more and more efforts to find solvent tenants.