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September 1st, 2017

How to Keep Your Apartment Competitive on the Changed Property Market

Landlords may consider to invest into their property to keep it attractive for tenants.

Searching for real estate market news you can read everywhere that rental fees in Budapest are on a very high level so you as a property investor can expect a good return and an ongoing occupancy of your apartment.

However the situation is more complicated. Dozens of new apartments arrived recently to the market, renovated and furnished on a high standard with good location. In contrast, many investors have an apartment with same central location but with 10 years old furniture and worn floor, kitchen, etc. “Obviously the now run-down apartments are even less attractive compared to these new, attractive listings” explained Zsolt Pavelka, Lettings Manager at Tower, in a recent interview. It means that some landlords may need to invest some founds into their property simply to keep it attractive for potential tenants for the same rental fee. At the same time, with a bit more investment you may reach a serious growth in rental value.

 

Case Study: 35% Growth in Rental Value

Let’s see a real example, how we successfully raised the rental value of a 67 SQM, 2 bedroom apartment in District 8.

 

Summary:

  • starting point: a rundown, unfurnished apartment
  • investment: 7450 EUR
  • works done: painting, several handyman works, full furnishing
  • rental fee before: 330 EUR
  • rental fee after: 510 EUR

 

Before

 szerdahelyi_before_kepek

 

After

 szerdahelyi_after_kepek

 

Are you interested how we tripled the rent of another apartment? Read our former article about the Rákóczy Renovation Project.

 

Interested in buying a property in Budapest?

Interested in buying a property in Budapest?

Contatct us to get a tailor made investment advise from the Budapest market specialist.

 

Send Enquiry

Tower-International Kft.
H-1052 Budapest, Bécsi utca 2
(at the corner of Kristóf tér and Bécsi utca)
Phone: +36 1 808 9777
Mobil: +36 20 496 8545
Fax: +36 1 354 0981
Mail: info@tower-investments.com

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