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## Rental Price Forecast for Hungary in 2024

According to experts’ forecasts, rental prices in Hungary are expected to experience significant growth in 2024. The Hungarian tabloid, Blikk, has reported that rental prices in Budapest grew by 19% between December 2022 and 2023. It is anticipated that this upward trend will continue in 2024, with a projected rise of 10%.

Rentingo.com, a leading rental search platform, has corroborated these findings, stating that the 19% increase in rental prices between December 2022 and 2023 was lower than the record set in 2021-2022, which saw a 27% surge. Despite this, investing in property in Hungary continues to be a viable option for many.

In December, the average rental price in Budapest was HUF 223 thousand (EUR 590) per month. The demand for rental properties is on the rise, while the availability of newly-built apartments in Budapest is decreasing. Additionally, there is a reluctance among investors to allocate financial resources to old apartment renewal projects.

The experts at Rentingo.com predict that the average rise in the rental market this year will exceed 10%, assuming that the market is not impacted by unforeseen shocks. They attribute this moderate price increase to lower inflation in Hungary, with the government expecting an average inflation rate of around 5-6% in 2024.

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The AI legalese decoder can help in this situation by quickly analyzing and deciphering legal or technical jargon related to property rental laws, regulations, and contracts in Hungary. It can provide clear and concise explanations of complex legal terms, allowing individuals and businesses to navigate the rental market with ease and confidence. Additionally, the AI legalese decoder can assist in understanding any potential legal implications of investing in property and staying informed about the latest developments in property laws and regulations.

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