As of April 2024, the fifth district registered the highest average monthly rental prices for houses and apartments in Budapest, Hungary measuring at *** thousand forints. By comparison, dwellings in district XXIII could be rented for approximately *** thousand forints per month.

The average asking price for rental apartments in Budapest totaled *** thousand forints a month in January 2022, while the average offer price peaked at *** thousand forints. By comparison, average asking prices on the Hungarian capital's apartment rental market amounted to *** thousand forints in the corresponding period of the previous year, while offer prices were measured at *** thousand forints.

Real estate prices in Hungary
The Hungarian capital has always been, by far the most expensive city in the country not just in terms of rental apartments but also self-owned real estate properties. Hungary’s real estate prices have been steadily growing over the last few years, as reflected in the house price index which stood at *** points in 2022, compared to the base year of 2015.

Real estate prices in Europe
Despite the capital’s soaring rental prices, Budapest is still at the very end of the list in a broader European context. Many cities from the Central European region, such as Vienna or Berlin experience a much higher price raise in rent, often double or triple times more, compared to the average price in Budapest.

As of April 2024, Hungary's capital Budapest recorded the highest average rental prices for houses and apartments measuring at *** thousand forints a month. By comparison, average monthly rental prices in Békéscsaba totaled ** thousand forints.

In May 2023, District V recorded the highest average square meter price for newly built apartments in Budapest, totaling **** million euros. By comparison, the average square meter price of new apartments reached only **** million euros in District XXI.

In June 2019, apartment rental prices peaked in Budapest at nearly ************* forints per square meter and subsequently decreased to *** thousand by June 2021. However, the average rental price of apartments in the whole country maintained rather similar values over the considered time period.

Amsterdam is set to maintain its position as Europe's most expensive city for apartment rentals in 2025, with median costs reaching 2,500 euros per month for a furnished unit. This figure is double the rent in Prague and significantly higher than other major European capitals like Paris, Berlin, and Madrid. The stark difference in rental costs across European cities reflects broader economic trends, housing policies, and the complex interplay between supply and demand in urban centers. Factors driving rental costs across Europe The disparity in rental prices across European cities can be attributed to various factors. In countries like Switzerland, Germany, and Austria, a higher proportion of the population lives in rental housing. This trend contributes to increased demand and potentially higher living costs in these nations. Conversely, many Eastern and Southern European countries have homeownership rates exceeding 90 percent, which may help keep rental prices lower in those regions. Housing affordability and market dynamics The relationship between housing prices and rental rates varies significantly across Europe. As of 2024, countries like Turkey, Iceland, Portugal, and Hungary had the highest house price to rent ratio indices. This indicates a widening gap between property values and rental costs since 2015. The affordability of homeownership versus renting differs greatly among European nations, with some countries experiencing rapid increases in property values that outpace rental growth. These market dynamics influence rental costs and contribute to the diverse rental landscape observed across European cities.

In January 2022, the average offer price of an apartment in a panel building in Budapest totaled *** thousand forints per square meter. The highest apartment prices were recorded in district XI. at *** thousand forints per square meter.

In January 2022, the average offer price of an apartment in a brick building in Budapest totaled *** thousand forints per square meter. The highest apartment prices were recorded in district II. at ***** thousand forints per square meter.

In 2023, the most expensive residential rental market in Europe was London (inner) with rental costs of approximately **** euros per square meter. Dublin and Paris followed with rental costs of **** and **** euros per square meter. Rents increased across most markets - a trend that could also be observed in the housing market. How much does an apartment cost in different European cities? Renting a furnished studio apartment in some of the leading cities in Europe can cost anywhere between *** euros monthly (Budapest) and ***** euros (Amsterdam) per month. For afurnished one-bedroom apartment in Paris, France, one may be expected to pay on average ***** euros monthly. Which countries have the most affordable housing? The house price to rent ratio is an indicator of the affordability of owning housing over renting across European countries and is calculated as the nominal house prices divided by a rent price index. The higher the ratio, the more the gap between house prices and rental rates has widened since 2015 when the index base was 100. As of the fourth quarter of 2021, Finland, Italy, and Belgium had the lowest house price to rent ratio, meaning that buying a house was most affordable there compared to renting.

The average price of used residential properties offered by private owners in Budapest, Hungary increased over the period under consideration. In September 2021, the average offer price of used apartments and houses per square meter totaled 770 thousand forints.

As of January 2022, the average offer price of new dwellings located in district I. in Budapest, Hungary totaled over *** million forints. At the same time, the lowest prices could be found in district XXI., totaling *** thousand forints per square meter.

As of September 2021, the average purchase price of used residential properties in Budapest was the highest in district V. totaling over *********** forints per square meter. By comparison, in district XXXIII. the average offer price of properties sold from private owners reached only *** thousand forints.

In January 2022, the average offer price of an apartment in a panel building in Budapest totaled *** thousand forints per square meter. Veszprém was the second most expensive Hungarian settlement, considering apartment prices in panel buildings.

In January 2022, the average offer price of an apartment in a brick building in Budapest totaled *** thousand forints per square meter. By comparison, the average offer price per square meter of apartments in brick buildings in Salgótarján amounted to *** thousand forints.

The number of housing units constructed in Hungary fluctuated over the period under consideration. In 2020, over ****** dwellings were built, which was the highest figure recorded over the observed time. In the same year, the construction production value of residential buildings totaled *** billion forints. However, by 2023, the number of houses built in the country decreased to approximately **** thousand. Houses’ characteristics Houses constructed in Hungary have a relatively large floor space, measuring at ** square meters on average in 2023, while the highest figure was recorded at *** square meters in 2012. The vast majority of dwellings are supplied with piped water, reaching **** percent in 2023, while in the same year, the share of dwellings with a bathroom or lavatory totaled under **** percent.  House and apartment prices The Hungarian real estate market has been characterized by increasing prices lately. It comes as no surprise, that the country’s capital, Budapest has the most expensive housing on the market. In 2023, the average price of new apartments per square meter was the highest in District V, totaling **** million euros. In comparison, the average square meter price of new apartments reached only **** million euros in District XXI.

In 2022, in Central and Eastern European capital cities, monthly mortgage payments on an average of ** square meter apartments were the highest in Prague and Budapest.