Property Investment in Hungary
Property Investments in Hungary
Hungary joined the EU in 2004, and in terms of investment and tourism growth, Hungary is second to none.
Why invest in Hungary?
With Hungary’s entry into the EU in May 2004, supported by further liberalisation, its capital Budapest is on its way to becoming one of the biggest economic engines of Eastern Europe. With its architectural beauty and financial growth, it has become an ideal target for investors.
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.
So why invest in Budapest? Well…
• It’s located as a central distribution point for European countries
• 323 Fortune 500 companies have experienced excellent return on investment
• Hungary has the lowest corporate tax rate in central Europe
• Attractive government investment incentives exist
• Productivity in Hungary has risen by an average of 13% every year
• The political environment in Hungary is stable and transparent
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.
Hungarian investors have experienced unprecedented growths in their property values in recent years. Typical levels of appreciation for properties in well-located areas have been seen at 10% up to 15% per annum, and coupled with an average rental yield of 6%-8% for an apartment, Hungary is an exciting investment to add to your portfolio.
Main Property Areas:
Hungary’s capital Budapest is on its way to becoming one of the biggest economic engines of Eastern Europe.
With its architectural beauty and financial growth, it has become an ideal target for investors.
Toscana Gardens
Location: District 9, Budapest
Type: Development
Size: 29 sqm
Category: Off Plan Development
Overview
With its distinctly Mediterranean style Toscana Gardens offers a wide range of quality accommodation for middle class Hungarian families. Toscana Gardens will provide special services as well, including an indoor swimming pool, fitness and wellness centre in addition to an underground car park.
More information on Toscana Gardens
Central Residences
Location: District 7, Budapest
Type: Development
Size: 29 sqm
Overview
Central Residences meets all the criteria to qualify as a prime centre development. Situated just off the main public transport junctions of Budapes
More information on Central Residences
Andrassy Palace Gardens
Location: Andrassy, Budapest
Type: Development
Category: Development
Overview
A 19th Century Masterpiece with 21st Century Comforts. This incomparable and superbly appointed building located on Budapest’s Andrassy Boulevard comprises 64 luxurious apartments.
More information on Andrassy Palace Gardens
Zoldliget Phase II
Location: District 9, Budapest
Type: Development
Size: from 29m2 to 71m2
Category: Apartments
Overview
District 9 is the number one ‘up-and-coming’ area of Budapest, with trendy bars and cafes serving a huge Hungarian middle-class population. The district is also well-known for its student community, with the grounds of the Medical University, the Technical University and the University of Commerce nearby.
More information on Zoldliget Phase II
Gizella Park
Location: District 9, Budapest
Type: Development
Size: studio - 35.94 square metres
Overview
Gizella Park with unique conditions offers solutions for all kinds of housing demand. Gizella Park is located in District 9, which is Budapest’s number one up and coming area, with numerous trendy bars and cafes.
More information on Gizella Park
City Home
Location: District 6, Budapest
Type: Development
Size: 33sqm - 97sqm
Category: Apartments
Overview
The City Home Concierge Residential is located in the heart of Budapest . The area is filled with lively streets and major entertainment spots. City Home apartments are planned to offer a full-service package in a form that has never before been seen in Budapest.
Versec Mansion
Location: District 2, Budapest
Type: Commercial
Size: 1437sqm
Category: Office Block
Overview
This beautiful and modern building was constructed on this plot of 1,437 square meters. The building has a basement parking level, and 4 floors above the ground. Currently the function supports 22 modern offices with air conditioning and a built-in computer system.