Budapest rents: why did the August hike fail to materialise?

The abundant supply also seems to have played a role in rents not rising as sharply as they generally do in August, despite the rush of university / college students. Rents were up 0.5% nationally and only 0.1% in Budapest compared to the previous month.

The real rent index was 28% higher than in 2015 nationally and 22% higher in the capital. Due to the flat consumer price index, the change compared to the previous month is in line with the nominal index: up by 0.5% nationally and 0.1% in Budapest.

Rents in Budapest increased by 2.8% in the Buda hill districts and fell by 1.5% in the other districts of Buda, following a 3.0% increase in the previous month. In the inner and outer districts of the Pest side, rents rose by similar amounts, 0.5% and 0.4% respectively, while in the transitional districts they fell by 0.2%.

OVER A YEAR, RENT INCREASES OF BETWEEN 8% AND 11% WERE RECORDED IN THE CAPITAL'S DISTRICTS, WITH THE LARGEST rises IN THE OUTER DISTRICTS OF PEST.

In the first eight months of 2024, the vast majority (92%) of the advertisements under review were for flats in condominiums, with the remaining 8% or so for detached houses. In Budapest, only 3.4% of dwellings for rent were detached houses. In the January-August period, 44% of the advertisements taken into account came from private individuals n1tionally and 43% in the capital.

Cover photo (for illustration purposes only): Getty Images