It has been a question of all time if it is beneficial to buy rather than rent ? Or vice-versa?
With some basic calculations we can proof that it is actually much beneficial than to buy rather than to rent in Budapest.
Considering a medical student which might stay in Budapest for let’s say 8 year. (1 year pre-med, and ~7 years of university).
If they pay 500 EUR for the rental fee (average rental fee of new built apartment complexes e.g. Corvin Setany ..etc), in 1 year they have spent 6,000 EUR.
in an 8 year run they have lost 48,000 EUR which is equivalent to an average of ~15,000,000 HUF!
With the current real-estate market of Budapest it is obvious that with such a budget you can potentially buy a decent apartment in the central Budapest and if you are looking for more; with a mortgage/loan of 5,000,000-10,000,000 HUF you can make it to 20,000,000-25,000,000 HUF that respecting statistics, is a great budget to consider!
As a conclusion, we can get to the point that while renting an apartment in an 7-8 years period, you are burning 75% of the money you can buy an apartment; into dust !
Not to mention the yearly interest rate that you can enjoy and a great investment you can rely on in the future!
Think again- buy a flat in Budapest!