Budapest Real Estates - The Way the Cookie Crumbles

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Real Estate Agent

Everyone knows the saying, “That’s the way the cookie crumbles”, which basically says that “Oh, well. That’s just the way it is”. As the saying goes, so goes the real estate market in Budapest. If someone wants to live in the Hungarian capital, then they’re going to need more money than they thought they originally would. Many tourists think that this a cheap, cool city filled with arts, culture, nightlife, and great history. I would almost 100% agree with this assessment, but I would need to point out Budapest is not so cheap anymore, especially if you take a look at the real estate market. The prices of apartments and other properties have skyrocketed in the past 5 years or so, causing many locals to worry about their futures here in this great city. Ok. Perhaps “worry” is too strong of a word. Perhaps I should have said something different or used a different adjective, but what I’m trying to get at is that living here has changed. With the ever growing popularity of the city, both with foreign companies and tourists alike, the prices have shot up, most notably in the real estate market.

                If you want to live in Budapest, then I would suggest a few things. First of all, make sure you have a job with a significantly higher than average salary. Do your research on which companies would be able to provide this, as this will significantly affect where you will be able to live and how you will be able to live. Secondly, you need to do research on where you want to live in the city. There are 23 districts in Budapest, and the rental (so called  albérlet) prices greatly vary from district to district. You’d be surprised how much or how little space you can get for the same price simply based on what district you live in. And last of all, you need to figure out whether or not you will be able to afford living on your own or whether you’ll need to have a roommate. Some people can do all this calculating quite quickly and know exactly what they need and/or will need to make life in Budapest work. And of course there are others who are slightly delusional about the reality of living here and who end up shocked when they arrive without having done any research beforehand.

                So, whether you are one of the those types or the other, you need to understand that living here in Budapest has a price, and if you want to enjoy all that the city has to offer, then you need to accept that the real estate market is not going to decrease any time soon. This, my friends, is how the Budapest cookie crumbles.

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Rainer
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