Winter is coming. You know what they say, more people heat up a flat easier. Besides the bad joke, in November we present you anyway the asking price statistics of flats for more residents, the two bedroom apartments (with 1 bathroom).
October is always a U turn on the rental market. The big wave of the new semester has calmed down by then. Many apartments were taken out, while others despite the high expectations got stuck on the ad pages. In such a period owners start to lower the price of the apartments (or not) on their own way. In few weeks the market finds itself again, the new order takes place. With this two significant turning point similar listings can have extremely different related prices within a small period. This time the average prices say even more than usually!
It is highly recommended to the advertisers to adapt the drop of the market quite quickly. The landlords whose flat have remained empty may stay the same way for further weeks if they still expect the September price level. Nowadays it is also clever to think on the fact that many new owners had intended to prepare their fresh apartments to the semester start. But as we all know there can be always a delay by a flat renovation so despite the cunning plans. Therefore many brand new apartments have appeared on the market only in October strengthening the difference between the supply and the descended demand. The stereotype may be true: less is more. November is a new era for the decently priced apartments. It is a more balanced mid-year market situation.
As before, we base our diagram on the asking prices that still keeps many factors hidden: how successful the involved flats have been on the market so far, how long they were advertised and what their actual rental fee will be at the end. In return it helps to compare them with the competitors.
Altogether 82 two bedroom apartment (+ living room + one bathroom) - listed on the ApartmentsOfBudapest.com - has taken part in this statistics because 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 avarege from their partial results and put this final outcome to the following diagram (in Euro):
The average prices of the listings: 954 Euro / months
The median price of the listings: 951 Euro / months
The minimum price of the listings: 506 Euro / months
The maximum price of the listings: 1978 Euro / months
We can admit that even the median price and the average price is higher than many random examples that we may face in everyday life in case of apartments with general features and conditions. We can't know obviously in what proportion the persistent September greed and the active presence of the luxury flats in this category have influenced the current situation. By observing the two bedroom apartment supply we can spot much more luxury apartments than in terms of studio or one bedroom flats. Luxury estates characteristically stay longer on the market than general apartments with faster rotation speed. Therefor is no wonder that at the same time we can confront a similar amount of normal and luxury apartments, although most likely there are much more flats actually rented on lower and medium prices. A statistics about the actually rented apartments would show a different image.
Examining the lowest 505 Euro/month rental fee result, we can say that it shows realistic relations, given that in this price actually can be considered as the bottom of decent two bedrooms apartment in a central area. On the contrary a two bedroom apartment of quasi 2000 euro monthly rent has to offer something really special to find his tenant, especially with only one bedroom.
To the conclusion it is also interesting to go through the size distribution of the results:
Below 55 square meter size: 7 apartments
Above 99 square meter: 18 apartments
Between 55 and 18 square meter: 57 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: