Real Estate Market News from Budapest, Hungary Browse dozens of articles on property prices, trends, facts and other useful information for investors and home buyers in Budapest.

Architects Forming the Classical Budapest - Gyula Rochlitz, Architect of the Budapest Keleti Railway Station November 23rd, 2013

Gyula Rochlitz, architect of Budapest’s busiest railway station, the Keleti railway station made plans for several other buildings for the Hungarian State Railways. A lot of foreign tourist visiting Hungary arrive at the Keleti railway station; annually not less than half a million passengers purchase tickets at the international cash-desk.Gyula Rochlitz was born in 1827 in Eperjes. He studied architecture in Vienna, and later started to work in Pest. During the Hungarian Revolution of 1848 he served…

Architects Forming the Classical Budapest - Albert Schickedanz, the Architect of the Heroes’ Square November 23rd, 2013

Three monuments on one of the most famous Budapest sites, the Heroes’ Square, the Millennium Monument , the Museum of Fine Arts and the Kunsthalle are the most remarkable works of architect Albert Schickedanz, who was a master of the Eclectic style.Albert Schickedanz was born in 1846, in then Galician, now Polish Biala, in a family of a German origin who though considered themselves Hungarians. He studied in Germany and in Vienna, and in 1868 he started to work in Pest, with architect Miklós Ybl…

Architects Forming the Classical Budapest - Ignác Alpár, the Architect of the Vajdahunyad Castle November 23rd, 2013

One of the City Park’s most popular monuments, the Vajdahunyad Castle was built by architect Ignác Alpár. The monument that is home for the Museum of Hungarian Agriculture is visited by several hundred thousand tourists annually. Ignác Alpár was born in 1855 in Pest in a craftsman family, his original name was Ignác Schöckl. His father was a carpenter, he made the windows of the Vigadó Concert Hall. Alpár first started to work as an apprentice bricklayer, and later studied in Berlin. One of…

People Forming the Classical Budapest - Mihály Pollack, the Creator of the Hungarian National Museum November 19th, 2013

Mihály Pollack was one of the most renowned Hungarian Classicist architects. A lot of foreign tourists visiting Hungary take a tour in the most important building built by his plans, the Hungarian National Museum, where the most precious treasures of the Hungarian history are kept.Mihály Pollack was born in 1773 in Vienna as a son of a master builder. He studied in Vienna, and later started working in Italy: he took part in the constructions of the Milan Cathedral in 1793. In 1798 he moved to Pest,…

People Forming the Classical Budapest - Frigyes Schulek, Creator of the Fisherman’s Bastion November 19th, 2013

Architect Frigyes Schulek never got the financial and moral appreciation in his life he would have deserved by his works. Today many foreign tourists travelling to Hungary visit his most important work, the Fisherman’s Bastion, the Belvedere Tower on John’s Hill and the Matthias Church, which gained its current looks by his plans.Frigyes Schulek was born in 1841 in Pest, his father was a merchant and also a clerk in the Ministry of Finance, in the era of ministry of Lajos Kossuth. Schulek had prepared…

People Forming the Classical Budapest - Franz Liszt, the Eponym of the Academy of Music November 19th, 2013

Franz Liszt was one of the most renowned composers and pianists of the 19th century; and he is one of the most famous Hungarians as well. But foreign tourists know him not only by his works, since he is the eponym of the Franz Liszt Academy of Music, home for classical musical concerts and education; and of the airport of Budapest as well.Franz (Ferenc) Liszt was born in 1811 in Raiding, a then Hungarian, now Austrian town, his father was Prince Esterházy’s clerk. His musical talent revealed itself…

Architects Forming The Classical Budapest - Ödön Lechner, the Pioneer of the Hungarian Secession November 7th, 2013

Ödön Lechner was a pioneer of the Hungarian Secessionist architecture. Some of his most famous works are the Museum of Applied Arts, the Postal Savings Bank or the Saint Laszlo Parish Church. His work had a huge impression on the following architect generation. Ödön Lechner was born in 1845 in Pest, in a civil family. From 1866 he studied at the Bauakademie in Berlin, then travelled around Italy, and a year later he opened a architect office with his former fellow student, Gyula Pártos. They created…

Architects Forming The Classical Budapest - Imre Steindl, Architect of the Hungarian Parliament Building November 7th, 2013

Besides Miklós Ybl and Frigyes Schulek Imre Steindl was the most famous Hungarian architect of the 19th century, who followed the historicist school. Besides his most renowned work, the Hungarian Parliament Building he made the plans of the Commercial and Industrial Bank and the buildings of the Eötvös Loránd University on Múzeum körút as well. Imre Steindl was born in 1839 in Pest as a son of a jeweler. He got his qualifications at the Budapest University of Technology, then he studied at the Academy…

Architects Forming The Classical Budapest - Miklós Ybl, Architect of the Hungarian State Opera House November 7th, 2013

Miklós Ybl was one of the most renowned Hungarian architects of the 19th century. His most famous work is the building of the Hungarian State Opera House located at Andrássy út in Budapest. Ybl made the plans of the St. Stephen's Basilica and the First Savings Bank of Pest as well. Miklós Ybl was born in Székesfehérvár in 1814 as a son of a tradesman. Between 1825 and 1841 he studied in Paris, Munich and Italy. In 1841 in Budapest he opened the Architecture Institute with the son of architect Mihály…

These Districts Are the Most Popular among Property Buyers This Year November 4th, 2013

Among the expensive apartments those of the 2nd district are the most popular, and among the cheaper ones those of the 14th district. This year ca. 350 of them have been sold; this amount was more or less the same in the last 3 years. The most transactions have been realized in the 11th and the 13th district; annually 2500 transactions are realized here. The cheaper, HUF 9-million worth apartments of the 14th district and the more expensive, HUF 25-50-million worth apartments of the 2nd district…

Another Renewed Part of Corvin sétány Is Ready November 4th, 2013

The second renewed part of Corvin sétány, the area between Nagytemplom utca and Leonardo Da Vinci utca is ready. Building the avenue is one of the central projects of the renewal of the region. According to the mayor of the district the renewed avenue will lure new investors to the neighborhood, and the reputation of the district can also improve. The second renewed part of Corvin sétány (Corvin Avenue) was inaugurated on the 29th October. Building the part connecting the areas between two streets,…

The City Centre Can Turn into a Commercial Centre Again October 25th, 2013

The program series called “Will Be Back Soon” continues. Within the confines of the program the leaders of the city would like to get the empty shop spaces be used again, and lure the consumers back to the city entre. The aim of the program is to make the centre of Budapest a commercial centre again.The next chapter of the program series called “Will Be Back Soon” is about to start. Within the confines of the project the city leaders would like to solve the problem of the empty shop spaces and lure…

The Renewed Academy of Music Has Opened October 25th, 2013

The renewed Franz Liszt Academy of Music was opened on the 22nd October. The building was reconstructed by more than 1000 people, including more than 100 revivalists. The building located at Liszt Ferenc tér was opened with a festive concert.The renewed Franz Liszt Academy of Music was opened on the 22nd of October with a festive concert. The building of the academy was reconstructed by more than 1000 people. The project cost HUF 13.2 billion, of which HUF 11.829 billion was covered by EU resources.…

Budapest is the Second Best City of the World October 25th, 2013

Budapest was chosen the second best city of the world by the readers of an US travel magazine. The Hungarian capital was only taken over by the Mexican city San Miguel de Allende. The tourists visiting Budapest are most impressed by the city’s famous buildings, the entertainment opportunities and the fine foods.According to the recently published list of US travel magazine Condé Nast Traveler Budapest is the second best city of the world after the Mexican San Miguel de Allende – the Hungarian capital…

The Most Beautiful Houses in Hungary October 18th, 2013

A luxury villa in Sóskút got the prize of the most beautiful house in Hungary in 2013. A weekend-house near Balaton and one in Kővágószőlős got Special Prizes. The villa won the prize thanks to its tidiness and functionality and the weekend-houses for their ability to merge traditions with modernity.A luxury villa located in Sóskút, Pest County became the House of the Year in 2013. The house evocating the compactness of the rural architecture was built by the plans of architect Tamás Dévényi. The…

Népliget Is to Be Renewed October 18th, 2013

The renovation of Népliget is to begin in 2014. The aim of the development is the locals to be able to practice sports or other outdoor activities there safely. Thus after the constructions are finished, the park will be surrounded with a fence, closed for the nights and guarded by security 24/7. The football club Fradi’s training centre will be also renovated in 2015; new sport fields will be built.The renovation of Népliget (People’s Park) is to begin next year. The purpose of the investment is…

Renovated Properties Are Sold for 20 Percent More October 18th, 2013

Renovated properties have been sold for 20-40 percent more this year than those that require renovation. So the owners are better renew their house or apartment before they try to sell it. Replacing old wires, windows or doors can easily raise the value of a property.Although it’s not for sure the money the owner of the house spent on renovating will come back, on average the buyers are willing to pay much more for a renovated apartment than for one that is old and is not in a good shape. In Budapest…

A Huge Tropical Entertainment Park is to Be Built in Budapest October 10th, 2013

A Huge Tropical Entertainment Park is to be built in Budapest, in the place of the Amusement Park, which was finally closed on the 30th September. The future Pannon Park will present animals that used to live in the territory of today's Hungary thousands of years ago. An aquarium, a tale park, an adventure park, a bird hospital and a riding hall are also to be built here.The Amusement Park of Budapest was finally closed on the 30th September after 175 years of operation. The 6.5-ha area now belongs…

Bad Apartment Photos Scare Potential Buyers Away October 10th, 2013

Browsing real estate advertising websites we often find poor quality or unattractive photos, which are not able to show the advantages of the advertised property. Unattractive photos can easily scare potential buyers away, so it’s difficult for the owner to sell the property even if it’s in a good state with a great location. Real estate advertising websites and homepages of real estate agencies are full of poor quality or unattractive photos. The advertisements are illustrated with photos…

Constructions at Erzsébet tér Continue October 10th, 2013

he constructions of the Erzsébeti téri Kulturális Központ és Park (Erzsébet tér Cultural Centre and Park) continue. The 2nd part of the investment is to be finished in half a year. The project costs HUF 2.5 billion. The cultural centre will be extended with a concert hall and another facility for social, sport and cultural events. The constructions of the Erzsébeti téri Kulturális Központ és Park (Erzsébet tér Cultural Centre and Park) are about to continue. According to the plans the total…