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This is a 91m2, three bedroom, classic apartment at the foot of Margit Bridge in Pest’s mainly residential, though still central, 13th district. The building features elevator, a well-maintained stairwell and a great view to the Buda Hills, taking in the Danube, the Margit Bridge and Margit Island. Public transport and a small park are both on the doorstep. Spacious layout, with rooms reached from a central hallway, given the wonderful location and the quality of the building, offers outstanding potential. Rooms are large, and retain all original parquet flooring, doors and windows.Currently is operating as an office. Ready to move in. Because of its location its good opportunity.
Price: HUF 35 000 000
Price: EUR 129 000 circa
Area: 91 m²
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INVESTOR CENTER Market News & Reports
The Real Estate Market as it is… AND THE FUTURE
Just like most of the countries that have been progressing towards the European Union, Hungary has also become a focus point of foreign investment in the last couple of years. Being the first in the Central-European emerging markets’ arena to haves taken all the necessary steps to create a true market economy, capital from Western-Europe, and the rest of the world has found its way into most parts of the economy from food production to machinery. This process was only enhanced by the security enhancement the EU accession means to foreign investors.
Transparency of making investment decisions is a well-considered factor. According to a recent survey by Jones Lang LaSalle, Hungary was rated with the best score in terms of transparency level, and improving. In fact, countries like Japan, Poland or Greece were ranked behind.
The real estate market has developed along with the development of the market economy, and has proved to be a well-appreciated ground for Hungarian and foreign real estate development companies as well. Recent years have provided investors with yields which are beating virtually all their Western-European counterparts. Focusing on the capital Budapest, development first started in the commercial sector, and is now finding its way into the residential market.
Primarily driven by local demand, the housing sector has been flourishing beating all expectations. Recent years’ annual dwelling construction has doubled, and even now, it’s only near the level required to come up for natural reduction in dwellings. Thus, there is a significant potential in the Budapest housing market with following factors that could be driving value for Your investment:
- May 1, 2004 Hungary has become a member of the European Union giving a boost to economic performance and development, furthermore providing more opportunities for EU companies (both large corporations and SMEs) to open branches in Hungary
- Known for its tight relationship with the growth in real estate prices, economic is constantly 1-2 percentage points above EU level and will remain so until Hungarian GDP/capita will have converged to average levels (app. 10-15 years) “Economic activity in the form of GDP growth is even higher than in most other CEE countries and the forecast for above average growth is promising.”
- Looking at future economic growth outlook by The Economist Intelligence Unit, Hungary’s GDP is bound to reach EU average level in only a decade, thus providing an upside potential for real estate prices.
- With the introduction of the EURO, scheduled for 2010, interest rates will remain in constant decline or convergence to EU level, boosting the yield potential of the real estate sector as a whole
- Accounting for 50% of GDP, Budapest will remain the centre of economic growth continue to be the most attractive place for real estate investment in the upcoming years
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1065 Budapest, Hungary
Bajcsy-Zsilinszky út 5.
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Tel: +36 (1) 219 5505
Fax:+36 (1) 219 5504