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Price of parking spot in capital more than doubles in 5 years

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The average price for a spot in a garage in Budapest has risen to HUF 5.3 million, more than double that five years earlier, state news wire MTI reports, citing data compiled by listings site Ingatlan.hu.

Ingatlan.com chief analyst László Balogh said growing vehicle numbers and dearer residential property are pushing the prices up.

A spot in a garage in the capital can be rented for HUF 25,000 a month, on average, 25% more than five years earlier.

Garage spot prices are also on the rise in other larger cities around the country. In Debrecen, Hungary's second-biggest city, they now average HUF 3.7 million, up 66% in five years. During the same period, prices rose 200% to HUF 4.5 million for a spot in Győr and 174% to HUF 6.3 mln - even more than in the capital - for a spot in Szeged, Ingatlan.hu said.

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