Rental Market in Budapest, Hungary (Ungheria)
The rental market in Budapest is broadly similar to
those in other European capitals. The primary factors
driving prices are:
- Location
- Property size
- Condition
- Quality of furnishing/refurbishment
- Price
Generally, smaller (40-60sqm), centrally located
apartments are easier to let in Budapest. It should
be possible to secure a tenant here within 2 weeks
of taking possession. Larger apartments in the downtown
area will usually let within 4-6 weeks. The length
of time required will be significantly influenced
by décor and price.
More expensive and better furnished apartments presently
take longer to let. However, local analysts believe
that this will change during 2004. The influx of foreign
nationals that will accompany EU ascension will significantly
increase demand for this type of property. Local management
agencies predict that rental income will increase
significantly over the next few years.
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