How is the Budapest Rental Market in 2011?
In general, achievable rent has been decreasing and rental potentials restricted. It is not rare when apartments are standing empty for months even if rent is continuously decreasing month by month. Average vacancy period is 3 months approx. but we also have empty apartments for over 6 months. Keep the apartment rented with making tenant happy is a critical point in the current market environment. To introduce a tenant, more time and extra efforts (more flexibility with organising tours to tenants in the evening/in the morning and at the weekend/holiday) with price negotiation needed. Thanks to oversupply with furnished apartments in inner districts (5,6,7,8,9), tenants intend to move as close as possible to the heart of City just nearby a metro station. The more well-located property the more chance of having a tenant in a specific time. Well located does not mean only that you have an apartment in those districts but street, street number (building condition), floor, view are in focu
