If you are planning to stay in Hungary for only a short period of time, then renting makes more sense than buying a home. Rental prices are relatively cheap compared with other European countries, but vary considerably between different parts of the city, and are rising steadily. However, Hungary offers a better price-quality relationship in rental market compared to other European countries. Example: the rent of an apartment in the center of Budapest is three times cheaper than the rent of the same apartment in the center of Madrid.
The vast majority of expatriates live in Budapest. Here it is possible to rent apartments, townhouses and family homes, although there is a shortage of short-term rental properties. It is estimated that 8% of accommodation in Hungary is rented, compared to the EU average of 35%. The rental market in central Budapest, therefore, is driven largely by demand from foreigners.
Use the list of approximate rental prices in Budapest as starting point for your research:
- Apartment (1 bedroom) in the city center €240
- Apartment (1 bedroom) outside of the centre €179
- Apartment (3 bedrooms) in the city centre €430
- Apartment (3 bedrooms) outside of centre €330
Student housing
Many students live in shared apartments, which is not only the cheapest option but also the best way to make friends. You can find a single room in a shared apartment in the center of Budapest from €150 and spend about €130 monthly for basic utilities (gas, electricity, water, garbage).
As a student you are probably looking for a home near your faculty but not too far from the center. We advise you to look for an apartment near one of the stations on the metro line that goes to your faculty. In Budapest this is usually the blue one (metro 3) since many faculties are located along this line.
There are many ways to find a shared apartment in Hungary. Click here for more information.