How much of your salary will go towards your own home? - We reveal the harsh reality in Hungary.
Although wages have increased significantly everywhere in the last year, this has not led to clear progress in the housing market. According to Portfolio data, property prices have increased dramatically in smaller towns and cities, making it more difficult to buy a home in many places. At the same time, renters are in a better position, as wages have increased more quickly than rent. The analysis shows how many years of salary are needed to buy a home and how much money is spent on rent.
Despite the near doubling of wages in most places over the past year, this has not resulted in clear progress in the housing market. According to exclusive Portfolio data, property prices have fallen in many cheaper regional capitals, making it even more difficult to afford housing. However, renters are in a better position, as rents have increased more quickly than wages in most cities and districts of Budapest. We will show you how many years of salary are needed to buy a home today, and what percentage of income is spent on rent.
