Cordia Ltd. has announced to develop 1500 new smart apartments in Budapest. The Hungarian real estate market has not witnessed so grand property developments since the change of the system of government (1989). The firm sees big demand for its apartments, which would be in Pest and Buda.
Wanted right now!
The firm plans to launch the new developments at 8 different parts of Budapest to be realized by 2018. According to the analyses carried out by Cordia there is a soaring demand for the new apartments due to the over-demand and supply has not been able to keep up with the strong demand. The number of potential new home buyers exceeded that of last year by 70 percent and it was 3 times more than the date 2 years ago. Especially in the downtown of Budapest demand is reported to be stronger than in any other parts of the capital, thus the recent housing developments of the firm are concentrated in prime downtown areas.
The price of downtown apartments with high quality can reach the Western European prices
There can be a big shortage of newly built homes in the center since the number of central built-in plots keeps decreasing, which can be another reason for the recent limited supply. Experts of Cordia forecast that the price of the apartments with excellent qualities in central locations may approach Western European property prices. The investors’ interest for properties with good qualities is likely to continue due to the very low interest rate and the fact that the investments are paid off as well as there is a reasonable return on it.
Comfort at a push of a button: Smart homes!
Another advantage is that the new developments will be smart homes, which means that one can remote control of all technical appliances of the home over a smart phone from any part of the city. By simply pushing a button on our smartphone, we can operate these to create a comfortable home environment. There will be 3 different types of packages launched by Cordia.
You can read about the developments in more details in the next post.
