Latest news in Hungary - 15 Oct 2024

- Record Rental Vacancies Amid High Prices: Hungary is witnessing a historic number of rental properties available, with over 16,000 nationwide and 10,000 in Budapest. Despite a national rental price decrease, Budapest rentals have seen a slight increase, with yearly rents rising by approximately 9.9% in the capital. Most available rentals are concentrated in the XIII and II districts. Read more here

- New BKK Security Force for Public Transport: Starting January 1, 2025, Budapest will introduce a new BKK security force consisting of at least 200 personnel to enhance safety on public transport. They will focus on addressing harassment and disturbances, and a dedicated reporting feature will be added to the BKK app. Read more here

- Public Consultation on Tax-Free Housing Savings: The Hungarian Ministry of Economic Development is starting a public consultation regarding a proposal that enables over 1 million pension fund members to use savings for housing-related purposes tax-free in 2025. This initiative aims to support renovations and repayment for properties. Read more here

- Plans for MotoGP and Superbike Races in 2025: Hungary will host MotoGP and Superbike events at the Balaton Park Circuit, marking the return of these races to the country after 33 and 35 years, respectively. The government is expected to invest nearly 11 million euros to support the events scheduled for July and August 2025. Read more here

- Youth Football Player Undergoes Emergency Surgery: Zója-Katona Márk, a 17-year-old football player, is recovering after emergency surgery to remove a ruptured kidney sustained during a match. His team and peers are rallying behind him as he begins his recovery. Read more here

- District I Mayor Controversy Over Clerk's Bonus: The newly elected Fidesz mayor of District I, László Böröcz, accuses former opposition mayor Márta V. Naszályi of awarding a departing clerk a controversial performance bonus. The situation has ignited discussions about budget allocations and transparency within the district's local government. Read more here

- Hungarian Government Proposes Use of Pension Funds for Home Renovations: New legislation could allow pension fund members to utilize their savings for home renovations starting January 1, 2025. This initiative aims to stimulate the housing market and cater to economic growth concerns in Hungary. Read more here

- Hungary Secures First Nations League Victory: The Hungarian national football team achieved their first win in the A division of the Nations League, recently defeating Bosnia 2-0. Key player Dominik Szoboszlai was instrumental in the victory. Read more here