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So, apart from the steady capital growth and rental yields, what are the other reasons why Hungary is a popular location for property Investment?
Property Prices
Compared with other EU countries, property prices in Hungary are relatively low with the average price of a property in Dublin being more than four times the price of its Hungarian equivalent. Picture Ireland, and in particular Dublin, ten years ago – this is where many economists and property experts believe Budapest to be at present.
Don't wait for property prices in Budapest to catch up with the rest of Europe before taking the plunge.
Now is the time to invest in a luxury city centre apartment in Budapest.
Accession to the EU
Budapest is not a “here today gone tomorrow” booming property economy. In fact, it's on its way to becoming one of the biggest economic engines of Eastern Europe and as a result is experiencing steady & consistent growth in Property prices and rental yields.
With Hungary's accession to the EU in May 2004 and supported by further liberalisation, Hungarian people are becoming wealthier and are now competing with International buyers for well located properties in key locations around the city.
Security of Investment
Compared to a lot of new “Hot Spot” property locations, Budapest continues to be one of the most secure and consistent property performers: The reasons for this include:
It is a Cosmopolitan City with similar characteristics to Dublin, London & Paris.
Growing demand for rented accommodation from the local and ex-pat market
Good quality builders with bank guarantees on all payment received
Steady growth in Prices
Improved mortgage facilities for International buyers
English speaking lawyers and rental Property Management Companies
Choice of Investment Opportunities
Budapest offers a wide range of Investment options at a range of prices from €50,000 to €25,000,000.
The city is split into 23 districts. Each district offers it's own unique Investment opportunity ranging from Luxury Embassy apartments in the District V business district to apartments in the rejuvenated District XIII from €60,000 with a strong rental demand from the local Hungarian market.
A Beautiful Cosmopolitan City
Two million of Hungary's total population of 10,300,000 live in Budapest, the city known as the 'pearl of the Danube'. Since the two regions of Buda and Pest were unified in 1873, the resulting city has developed into the cosmopolitan metropolis of today.
A cultural mecca, Budapest offers a staggering 237 monuments, 223 museums and galleries, 35 theatres, 90 cinemas, 2 opera houses and 12 concert halls. The public transport system of underground, trams and buses is among the best in Europe.
The underground railway is the oldest in mainland Europe and has been running for over 100 years. Accompanying this railway is a tram system and bus service connecting all the different districts of the city.
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