Hungarian Property Investment
Beat the 5% price increase
- Only three units left in the first phase
- Buy at 30% below current market value
- Only 20% deposit
- 45 of the world's largest mutil nationals are in Hungary
- DTZ rnaked Budapest 3rd in top ten cities to business in
Landmark Budapest development
- The first mix of residential, retail and commercial in Hungary
- 6% estimated rental income
- Attractive buy-to-let market
- 8,000 people living and working in the development
- University and 4-star Conference on-site
When people think about buying property in Hungary, they principally think about Budapest.
Budapest property investment
Budapest is one of the principal cities that links Eastern and Western Europe and has made the relativity painless transition from communism to liberal capitalism. This transformation has brought with it new investment which is revitalizing the country, with the grandeur of old Budapest being restored to its full glory. Its culture, elegant architecture and excellent food, has lead Budapest to be referred to as the ‘Paris of the East’.
Situated on both banks of the Danube River, the city unites the colourful hills of Buda, famous for its castle, and Pest, beloved for its wide boulevards and cosmopolitan café society culture.
Budapest has benefited from a lot of commercial investment from Western Countries that want to use it as an operational and administrative centre. General Electric, Coca-Cola, Citibank, Ernst and Young, Nokia, Eriksson, and IBM have all chosen Budapest, attracted by its central location, well educated workforce and the low cost per sq metre of real estate. Real estate prices in Budapest are currently lower than in comparable European cities like Prague and is ranked as one of the top five cities to invest in by the international surveyors DTZ.
Property for sale in Hungary
Many of the residential tower blocks built on the outskirts of the City during the communist era are now being demolished and being replace with modern, residential property. Given the huge difference in luxury, not surprising many Hungarians are opting to move as quickly as possible into these modern apartments. The Hungarian government further incentives potential Hungarian buyers by awarding them a 10% grant to assist their purchase of new residential property. Hungarians don’t want to wait for build period associated with off-plan property and will either rent or wait until the property is completed before buying This presents investors with opportunity with the possibility of buying an off-plan property and selling it on at completion, often referred to as ‘flipping’ or renting it out after completion.
With more sunshine than Naples, Budapest is growing as an important tourist hub with many Italians and Germans choosing to holiday in Budapest.
Budapest is not without its problems, there have been protests in the City over reforms the economy requires to conform to EU membership. However, Budapest’s strong culture appeal and investment potential make investing in property an appealing option for lifestyle and investors alike and suits investors who want a relatively low risk property investment with steady returns.
Population : 9,981,334 (July 2006 est.)
Capital : Budapest
Language : Hungarian
Currency : Euro
Dialing Code : +36
International Airports : Budapest, Ferihegy
