Airbnb Significantly Boosts House Prices in Budapest

The downtown of Budapest is still the most popular area of the rental housing market, however, due to Airbnb's housing for only a couple of days, long-term rental prices have skyrocketed. Because of this, many of them are already priceless in frequented neighbourhoods, in good public transport neighbourhoods or areas near universities.

Observing the data of the first quarter of this year, the average monthly rent for an apartment in Budapest is around 122,000 forints, which is 2824 forints per square meter. Rentingo.com has recently made a survey and found these prices in the Hungarian capital.

The rental fee is less in case of larger or less-favourably built flats, and for smaller apartments that are less than 40 square meters, the monthly rent can be much more - 4000-4500 forints per square meter. These are the apartments that are most likely to go through Airbnb. In case of a long-term rental, the cost of maintenance, overheads, and common costs are additionals, which usually cost an average monthly fee of 700 forints per square meter.

According to demand, the most popular districts in Pest are the 5th, 7th, 13th and 14th districts and in Buda are the 2nd and 11th districts. The most sought-after apartment sizes are between 34-60 square meters, and regarding the type of the apartment the one-and-a-half room brick-built, furnished homes are the most frequently rented ones.

1st, 5th and 7th districts are favoured by Airbnb services, so rental prices in these districts have increased considerably.

Anyone who wants to be relieved of the effects of the Airbnb rise in housing is worth exploring in neighbourhoods adjacent to the abovementioned districts, where there are flats at moderate costs, as well as not being far away from downtown areas.

Sources:

http://www.piacesprofit.hu/gazdasag/az-airbnb-miatt-lassan-megfizethetetlenek-a-lakasok/

https://index.hu/gazdasag/2018/04/22/122_ezer_forint_egy_atlagos_fovarosi_alberlet/