Budapest Apartment Rent
Budapest is believed to be one of the most beautiful cities in Europe; with a cosmopolitan culture, charming nightlife and historically rich architecture, it’s always one of the top choices for many Hungarians and foreigners to live. In addition to foreigners living in Budapest, there’s also a growing trend with many older European nationals who choose to spend their retirement years in Hungary and prefer the countryside. Budapest is divided by the banks of the Danube River into two parts: Buda and Pest. Buda is positioned on the western bank of the Danube and includes the more historical parts of the city, while in contrast, Pest is considered the center of the city, situated on the eastern side of the river and famous for its cultural diversity with an assortment of bars, cafés and gourmet restaurants.
As the city grows in popularity, property investors are speeding up the purchase of apartments for short and long-term rent alike. Budapest apartments for rent can be found all across the city, serving a wide range of budgets and lifestyles. Most of the apartments are on the Pest side of the city, and typically come set within a wider apartment complex.
According to portfolio.hu, the choice between Pest and Buda for the more agreeable place to live based on price still holds its position steady. Buda leads the game in the average higher price. However, it is still considered to be more expensive than Pest, but in some parts of it, there are very great deals for more reasonable prices too. But overall, the question is: is the highest price still marks its location at Pest?
KSH study in the first half of 2017, clarifies the prices of the houses in each capital district. 5th district holds the record of the most expensive price, being followed by the 2nd, the 1st, and the 12th in order with the 6th and the 11th coming after.
That does not change the fact that the 13th, 14th, and the 11th are the most popular districts in the city where in the period of study almost 3000 flats were purchased. Those interested in buying a newly constructed home might actually be willing to try their luck in the 3rd district where they can find newly-built homes for more acceptable prices.
Centrally located cheap apartments to rent are not so easy to find, due to the increasing demand by students and expats on a budget. But since living in Budapest is much less expensive in comparison to many other cities in Europe, finding suitable apartment rentals with fair prices is not very hard. Cost of living in Budapest rank 229th out of 375 cities in the world.
The average monthly rental cost for 1-bedroom is around 130,000 HUF in the city center and around 95,000 HUF outside of it. These prices convert to around €420 and €300 respectively, which doesn’t really seem so bad.
Blocks of flats are usually less expensive than the apartments
It is important to mention that the average prices in each district are calculated based on the purchased detached houses, apartments and blocks of flats. The blocks of flats are usually less expensive than the apartments, thus, the districts where less of them are sold give those for higher prices.
When searching for a flat or apartment, it is important to keep in mind the length of your stay. This will influence the terms of the lease you can get.
Basically, there are four rental terms for which owners are willing to let their apartments:
- Short term (up to three months)
- Season (three to six months)
- Semester (six to twelve months)
- Long term (minimal twelve months)
Short term rentals are generally aimed at the vacation rental market and priced accordingly. Also, all short rental terms are completely furnished, as they are mostly demanded by students and visitors. Season and semester rentals are usually also furnished but may or may not be equipped with things like cooking pots, cutlery and bedlinen. Prices are much closer to those of long-term rentals and there are many cheap offerings available. Long-term rentals typically have the lowest prices. One of the good things about long-term rentals is that many owners prefer to let long-term as it means that they won’t have to look for a new tenant again soon.
When renting a flat in Budapest, rent is not the only cost you must consider. Many rentals also have “common costs” which are fees for the cleaning and maintenance of the building. In some cases they also include water or heating. These common costs have a wide variety, from as low as 10$ to as much as 200$ a month. Generally the common costs are higher if the building has an elevator, a doorman, pool, and gym or parking garage. So you must keep in mind that what facilities are included in the apartment you choose.
There are a number of websites that have Budapest rental listings. This website has a large number of great deals for long-term rentals to help you choose your desirable house with the most reasonable prices.