Rents in Budapest city center fall by 24%

Rent in Budapest city center has dropped by 24% in 2020, compared to 2019, according to a report created by Otthon Centrum, based on rental agreements they have worked on. The study concludes that lack of tourists and income from short-term rental means that more properties were made available on the market for long-term rent. The study also concluded that in other districts, where tourists would often stay the prices have dropped by 15-20%, but at the same time average prices in districts I, II and XII where there are less tourists the prices haven’t decreased at all.