After the crisis the real estate market went silent for years, but now it is clearly booming and the trend seem to just be getting stronger. Which means that landlords are not in so great need of the rent paid by ruinpubs anymore and they might decide to freshen up their development plans instead.
This however presents a slight paradox as the "party district" of Budapest became so popular and expensive partly because of the presence of the ruinpubs.
Most of these were opened in places where investments, developments halted during the crisis and never restarted. But now it seems the long awaited restart is just around the corner, which could mean the end of many popular establishments. These could be transformed into apartment-complexes or hotels in the years coming.
Many of the bigger investors are careful to put their money in greater projects, but experts who know the market well are saying that many landlords already acquired the construction permits and are only waiting for someone who is willing to pay for it.
Many of the building which the pubs reside in have already changed owners in the past months and were acquired by large real estate development agencies.
The end of many pubs seems impending, but they might just remain in place in the next one or two years. Investors are cautious for a reason as the loan market is still not showing signs of growing fast enough. There are people who can afford to buy – they are just simply not willing to take the risks yet.
But with the trends on the market not even slowing down they might just get their courage together in the coming years.
