Lawyer's addressLövőház utca 20/A.
1024 Budapest Hungary

Attorney's phone number Tel.: +36 1 316 9233
Law office's fax number Fax.: +36 1 336 0107
Attorney's office e-mail info@drlittner.hu

How long will Hungarian apartment prices rise?

napi.hu, 08.11.2017 – There was a 2-point adjustment to the Budapest property index published by GKI Economic Research Ltd. compared to the previous figure from July. The national index remained unchanged. Property market outlooks peaked about a year ago but expectations are still high.

Although in the first ten months of 2017 the turnover of the apartment market did not grow on a year-on-year basis (in fact, there was a slight decrease), apartments at popular locations are still selling like hot potatoes and prices are still on the increase. An apartment with a good location is still considered to be a lucrative investment because at the age of low deposit interest rates it is hard to find a financial instrument that offers sensible returns paired with low risk.

As far as the Budapest agglomeration and Western Hungary are concerned the expectations of property agents for the next 12 months have deteriorated slightly compared to the previous quarter. In the Eastern part of the country, however, a slight improvement was detected.

Ruined apartments in the wake of Airbnb

napi.hu, 15.11.2016 – Airbnb is causing more and more problems worldwide. The scheme faces stiff opposition, too, because it poses competition for the hotel industry, reduces the number of apartments available for long-term rental and also results in increasing rental fees. The situation is the same in Budapest, where many Airbnb hosts have already become disillusioned.

A great number of owners joined the Airbnb bandwagon with high hopes a year or two ago. Some had just one single apartment and many of them are now forced to admit that this is not what they were expecting. Their properties have been devastated by foreign tourists, the revenue has been less than they had hoped for and Airbnb requires a lot more work and attention than letting an apartment for the long-term.

Short-term apartment letting involves active marketing, one must follow the dates of important events in the city and amend prices accordingly, and both the apartment and the guests need constant attention, too. If you just post your property for EUR 40 a night and hope for the best — you will be seriously disappointed.