Dear Property Owners, Real-Estate Partners!
In our recent statistics analysis, we focused on the 2 bedrooms plus living room apartments with 1 bathroom. This category was in our measurement in the previous, 2018 year too.
We would have liked to know, how the rental fee prices changed for this year compared to the last year data, and as well that by which numbers this value would modify, if we compare this category (2 bedrooms plus living room with 1 bathroom) data with those, which are with 2 bathrooms. With how much our rental fee price would optimally increase, if we would extend our apartment with 1 plus, a second bathroom?
Apartments advertised in this period, in October and November, includes more season’s apartment offers: those ones, which possibly stayed on the market because of overpricing after the July, August and September rush, and those ones too, which availability dates starts from middle December, January, beginning of February, as the recent tenants leave their rented apartments on one of this mentioned dates.
This period of the year provides good opportunities for our rental in more points of view, and as well related to more different apartment categories.
By starting the new year, from January will turn into life the structural changes, expansions of the multinational companies seated in Budapest, new divisions open. Expats, managers, top-managers, directors, project leaders starts their new work and challenges here in Budapest. High number of this home-seekers start searching for their new home from middle of November already, that they can be able and will have time enough till January to find their perfect place to live here. Singles, pairs, in many cases families, who mostly search for higher standard, luxury apartments. A spacious inner-city apartment, villa on the Buda side or a little outer inner-city located new, spacious apartment in a newly built building complex.
The other line significant home-seeker categories of the period are the international students: those who arrive for an Erasmus program and rent for a 5-6 months period from February, and as well those ones, who can change and start their long-term studies in their new Uni in Budapest starting from the same, from the beginning of the next, February semester. In case of this segment the most attractive offers are more likely focused on the middle and inner-city parts, where they can feel and practically live in the move, in the sparkling of our city.
Related to these mentioned home-seeker categories, in case of the firstly mentioned one the high-standard, luxury line, in case of the international students more likely the middle and little upper level, good price-value ratio 2 bedrooms plus living room apartments are relevant.
In this year, between 13th October and 12th November period, on AOB advertised apartments, the defined rental fee prices were as below, in case of the 2 bedrooms plus living room with 1 bathroom apartments for rent.
Our recent statistics analysis, as the previously ones too, was created based on 3 different conditions of the category: the smaller than 55 m2 size, between 55 and 90 m2 size and the above 90 m2 ones. Those offers which parameter cause extremely high rental fee deduction or increase, are neither now included in the survey.
And let’s see the numbers, the results in 2019, in case of the 2 bedrooms plus living room with 1 bathroom apartments for rent:
Average price: 1080 €/hó
Median price: 975 €/hó
Minimum av. price: 511 €/hó
Maximum av. price: 2248 €/hó
In order to compare easier, hereby we present the last year same period data too, in case of this same, mentioned apartment rental category:
Average price: 954 €/hó
Median price: 951 €/hó
Minimum av. price: 506 €/hó
Maximum av. price: 1978 €/hó
This year period data, compared to the same period 2018 data shows a definite raise.
By the average price a 12% increase, in case of the median prices a minimal 2% raise was experienced. The 3, based on size measured category average minimum value is as well only 1% but in case of the maximum average price this raise is a lot higher, 12% increase. This value by the maximum rental prices shows us as well, that the price raise tendency was significant in this year compared to the last year same period data.
Besides, interesting data are that in case of the 2 bedrooms plus living room with 1 bathroom apartments, the most price friendly was on 500 Euro rental fee, and the highest pricer one was offered on 3345 Euro monthly fee.
Attention: Herewith too, we would like to significantly take into your consideration, that in our analysis we measured the offered, advertised rental fee prices of the apartments, which can provide you a summarized overview regarding your competitors. The advertised prices can not give us a sure guarantee, that finally on which price the apartment could be given for rent. Based on the previous season rental experiences by the real estate participants, those whispers have been talking, already since before the summer months, that the rental deals became more difficult to be realized. This can be highly caused by the continuous increasing tendency of the rental prices. Be careful by your pricing, in order to avoid longer non-rented periods, it is important to react, modify the actual rental fee due suitable foresight.
In case of the 2 bedrooms plus living room apartments for rent, often we can meet with more thousand Euro rental fee apartments. But by this point, it is very important to mention, that in case of those ones which provide 1 bathroom for the tenants, it is significantly important and highly required that the apartment has pluses, for example should be located on one of the higher floors of the building, was just recently fully newly renovated, constructed or was designed on a really unique, high standard level.
The home-seekers of the luxury category require most cases the 2 bathrooms for the 2 bedrooms, therefore in case of a 1 bathroom flat, it is essential that should have a plus, at least one but more likely more plus conditions, by those the apartment can become attractive and into the focus of this home-seeker search segment as well.
As a plus interesting data, we measured how this rental fee prices change this year if we compare the same (2 bedrooms plus living room with 1 bathroom) category but with the 2 bathroom ones.
The differences are high, as follows:
With 2 bathrooms With 1 bathroom
Average price: 1435 €/hó 1080 €/hó
Median price: 1392 €/hó 975 €/hó
Minimum av. price: 742 €/hó 511 €/hó
Maximum av. price: 2846 €/hó 2248 €/hó
The offered rental fee differences are significantly high if we compare the 2 bedrooms plus living, 1 bathroom apartments with the 2 bathroom ones.
The average prices data show a 33% higher rental fee. Taking into consideration this number, it is practical and useful, if we have a 2 bedrooms plus living room with 1 bathroom apartment, that may be really profitable for long term to extend it for a 2 bathroom one. Of course, we can only do that if the apartment size, layout provides us the opportunity for that, if there are plus spaces enough in the flat that can be implemented a practically working reconstruction of our apartment.
If we are before a renovation, construction of our apartment but based on our basic layout plan the apartment would have 1 bathroom, it is highly recommended to measure, check out this opportunity, if we can implement 2 bathrooms instead of only one? Therefore we could have higher chance that our apartment would fit more into a higher category scale, therefore too providing us the chance to calculate with a higher rental fee income.
If you too would like to advertise your apartment on AOB, on the following link you can see our advertising packages: