It's time to wish a happy new year to all of our landladies and landlords which means at the same time that the new university semester is coming. This is the time of the year where similarly to the September season a new crowd of students invade the Budapest real estate market. Many of them are foreign students. Having regard to the situation in this post we inspect the statistics of an apartment type which is popular among the students: 2 bedroom apartments with a living room and two bathrooms. Who ever is interested in the former statistics of the two bedroom apartments which have only 1 bedroom can click on THIS LINK.
Having a flatmate isn't necessarily a compromise among the students. It is frequently a preferred community experience which can create friendships for a life time. Therefore more students pick intentionally apartments that are intended for co-living instead of having a one person studio apartment. Not to mention that they can save expenses with this solution as well. Different nations love to move together to have a closer look on each other's culture. Of course, there are counterexamples when people are directly looking for the "safe company" of hometown fellows in a foreign country. Anyhow, in case of a foreign student tenants living room plays an important role. It doesn't increase the renting price as much as if it would be a third bedroom but apartments with a complete living room (not only with two separately opening rooms or with a community hall) find their residents sooner and on higher price level. It's a quite common experience that despite the two separate private zone living room is the mostly used area of the apartment where the flatmates are able to gather.
Important: apartment owners in Budapest don't have to be necessarily more afraid of a student tenant than of an "adult" worker. Of course - as in any other case - everyone has to pick the tenant carefully after interviewing well and controlling rightfully the intended usage of the apartment during the tenancy.
The two bedrooms qualify the apartment into a somewhat higher class. The lessors can ask for higher prices and that operates as a filter on its own towards the flat seekers. It can be supposed that students who are willing to pay the extra Euros for the presence of the second bathroom are more picky and demanding of the environment and taking better care of the apartment. (Of course there is no guarantee for such things, these are just trends)
For those who are still preferring to have more mature, working professionals we still have good news: the increased demand thanks to the news students will help to find other tenant types easier. The new students leave less flat empty on the market in this category that makes the concurrent supply smaller. Unlike September in February the number of freshly done student apartments isn't that high either.
Despite the extra student power of the second semester, even in this season there are important factors to consider:
1. Nobody should overprice an apartment, not even in this period! If you want get more for it than possible, you'll be slipping out of the season with an unoccupied apartment. This are not good tactics because in March the prices start to sink again.
2. You have to consider the period of the tenancy before concluding a contract. Many students of the second semester are in five months Erasmus program. They seem to pay more which attracts several apartment owners immediately because the market of the apartments available for five months is narrower. But in case of an Erasmus tenancy the flat remains empty for the two months of the summer. It's better to make a calculation first to check if the price overplus is enough to cover the two lost months or you can have a plan B for the summer time (like a midterm tenant or short-term accommodation services - but most of the time these methods are requiring more energy from the lessor's side than a long term tenant does.)
The following diagram indicates what asking prices (Euro) a flat seeker faced on AparmentsOfBudapest.com in two bedroom-two bathroom flat category from 5th of December 2018 till 4th of January 2019.
Attention: we are examining asking prices which are no guarantee for the success of the flat on the market and doesn't tell what the actual renting price will be at the end. They are just summarizing the listing prices of the rivals.
The two bathroom apartment is a rarer type in Budapest there for we had only 37 examples at once after we removed the ones from the results which had significant price increasing or price reducing features (such as ground floor for with courtyard view as negative example or newly built apartment building as positive sample).
We inspected three size categories in terms of average price, median price, maximum price and minimum price and we took average from their partial results and put these final outcomes to the above diagram. The exact numbers are the following:
Below 55 square meters 12 apartments
Above 90 square meters only 1 apartment!!!
Between 55 and 90 square meters 24 apartments
Please note: we can not take the responsibility for the accuracy of our advertisers that they have given all the information correctly about their apartments for rent, not even the numbers of the bedrooms.
WARNING: We would like to warn kindly but strongly anybody who would like to rely on these results as a hint for finding the right price for a property yet to be announce, that please pay attention to the details of the apartment as well. Meeting the concurrent numbers is only half way. Let's focus on the concurrent elements either!
If you have an apartment for rent as well, here you can see how you can advertise it on ApartmentsofBudapest.com: