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.


Every tenant and apartment owner is afraid of break-ins, although sometimes it’s enough to pay attention to some simple things to prevent the trouble.   It’s important to take into account that burglars also work when we are at home. Some of them try to break in when we are asleep.  That’s why we have to pay attention to the things below before we go to bed.   Always Lock Every Door Even if there’s no exterior handle on the door, it’s not enough to close it: lock it every time. If…

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It’s recommended to get our apartment renewed before heating season, since we can save not less than 60 percent – a monthly HUF 15 thousand – on the heating bill. Despite the above, a lot of house owners tend to postpone redoing referring to the lack of financial sources or information, the fear of getting a loan and the unpleasantness caused by the construction. And some of them simply don’t believe they could save a lot on utilities with renovation.   It’s Worth to Refurbish the Apartments…

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Within the Central European region Hungarian apartments are the cheapest and Czech ones are the most expensive: in Hungary we have to pay EUR 917 (HUF 286 thousand) per square meter, and in the Czech Republic an apartment costs EUR 1186 (HUF 370 thousand) per square meter.   Apartments in London Are the Most Expensive According to the analysis of Deloitte surveying 14 European countries the most expensive apartments can be found in London and Paris. In London an apartment costs EUR 10 thousand…

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During the financial crisis the Hungarian property market decreased the most in Europe, but now it finally seems to begin to rise again. Hungarians are more likely to take a loan, the forint-loans are currently quite cheap, and those who have a debt because of their foreign-currency loan will get a reimbursement. Hungarians Are More Likely to Get a Loan  A several 100 thousand Hungarian families got a Swiss-franc loan before the crisis, and got themselves into a tough situation when their monthly…

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A nice apartment with an appropriate location in Budapest is always easy to sublet. Although it can lose its shine within a few years even if it is used appropriately, which can also decrease rent fees. It is worth to use some of the fee for redoing the apartment to make the next tenant choose it from the multiple opportunities.1. RepaintingEven if the tenant didn’t damage the painting of the walls, and there are only a few darker spots on it, an old paint can easily make the apartment look old.A…

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Budapest will be home for 4 games – 3 of the group phase and 1 of the knockout phase – at the UEFA European Championship in 2020: the new Puskás Ferenc Stadium was one of the winning applicants on the voting in Geneva.The UEFA Euro 2020 Will Be Hosted by 13 CountriesIn 2011 the leadership of UEFA decided that the games of the UEFA Euro 2020 will be held in 13 different cities of 13 different countries instead of one single country. The applicants could choose if they wanted to host the 2 semi-finals…

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The law proposal regarding the unfair details of the foreign-currency loan contracts was handed in to the Parliament, which includes several surprising details.The main points of the law proposal are the following:The overpayments have to be considered as an early payoffWhen calculating the amounts the official exchange rate of the Hungarian National Bank has to be usedThe banks have to calculate the amounts to be repaid according to the future order of the Hungarian National BankAccording to the…

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Even if the apartment or the furniture is old, that fact doesn’t make the place “retro”. Nowadays more and more home seekers are looking for this “retro” feeling, since the future owners and investors think it will be easier to find a tenant for an apartment with a retro style. But according to the practice it is not enough to leave grandma’s or the previous owner’s furniture there and call them retro… Property marketing sites are full of apartments with old, used furniture, but they are not…

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What is utility advance fee?Utility advance fee is a fee estimated in advance that the tenant has to pay for the owner monthly in advance together with the rent. The fee includes common expenses, electricity, heating, gas and water and in some cases internet and TV fees. The owner and the tenant get informed of the actual consumption periodically (once or twice a year) according to what the meter shows, and the margin is paid or paid back. Paying the bills is the responsibility of the owner (or…

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A new private clinic is to be built at the banks of the River Danube. The construction is expected to cost EUR 40 million (almost HUF 13 billion). According to the plans the construction of the medical institute called Duna Medical Center (DMC) will be finished by the beginning of 2015. Erecting the 25 thousand square-meter property costs HUF 12.7 billion.The Clinic Is to Be Opened in 2016The hospital will provide jobs for 600 health professionals. The doctors’ office is to be opened at the beginning…

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​Luxury Farms in Hungary

Besides residential apartments in the center of the capital and holiday houses at Lake Balaton there’s another kind of property that’s become more in demand recently: farms in the country. Farms are also bought as an investment; huge lands with decaying houses and luxury complexes functioning as a hotel are also popular among investors.Location Is the Most ImportantFarms have several advantages: there are no disturbing neighbors, and the land provides the opportunity for the owners to grow their…

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There are several pubs in Budapest that are located in buildings that had way different functions before. Locals and tourists may not even have a clue they are having drinks in a former primary school, a transformer station or on a stone-carrier ship.IskolaThe pub called Iskola (School), the former Tűzraktér is operating in the building of a former primary school. The 3500 square-meter property located in the 6th district was home for Tűzraktér pub from 2008 until 2011. Iskola was opened in 2011:…

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Property market started to show an increasing trend in 2014: it stayed quite busy in August as well. In the last month 27 percent more properties were sold than in the same period of 2013.Almost 9 Thousand Transactions Were Realized in AugustAccording to the data of real estate agency Duna House 8978 properties were sold in August 2014, which is a great number compared to the numbers of the years following the financial crisis. It’s true that fewer apartments were sold in August than in the previous…

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What is the difference between renting your apartment to a corporation (or other entity) and to a natural person? There are of course numerous differences, but we would like to emphasize two important items that every lessor should keep in mind.1. BillingSince all companies, corporations or other entities  have to account  for all of their expenditures/costs, they can only rent apartments from owners, who may issue out bills  with appropriate format.The range of potential tenants…

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How can your property in Budapest produce loss if it is not rented out?1.Common Charges/ Expenses Common charges are a foreign concept to those who have never lived in a condominium. The maintenance (lighting, cleaning, waste disposal...) of the common areas of condominiums in Budapest that include several apartments, and the maintenance of the whole area and building make up the common charges. This liability is payable every month, regardless of whether the property is occupied or not. The…

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Your tenant cannot prevent you from selling your apartmentMany owners do not even think of selling their apartments as long as they are rented out, believing that they cannot sell their properties when occupied by a tenant.1.   An apartment can be sold while occupied by a tenant.If a piece of real property is rented out, the new owner of the property must agree to the valid contract of tenancy, but the contract cannot hinder the sale itself.2. The property can be viewedAccording to §1 act 6…

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According to the expectations Nyugati tér will be renewed by the beginning of next summer. Knocking down the square has already begun, but the constructions are only to be started next February. The reconstruction of the former Skála store and the square in front of it has been planned for a long time: the visuals were made more than a year ago.The Date of the Inauguration Was Delayed by a YearThe new square was planned to be ready and inaugurated by this September. The reason of the delay is that…

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Economist Intelligence Unit, one of the biggest companies providing forecasting and advisory services through research and analysis made a list of the world’s most liveable countries. Budapest got the 50th place on the list of 140 countries.Cities Were Ranked Using 5 CategoriesThe institute used 5 categories to rank the cities: infrastructure, healthcare, stability, education and culture and environment. Australian Melbourne got the 1st place for the 4th year consecutively. Vienna has the 2nd place,…

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A Turkish investor bought the Klotild Palace. The monument was sold for HUF 2.15 billion. The self-government of the 5th district decided to sell the building on the 15th August: it was bought by Melis Investment Ltd., which is a part of Özyer Group.A Hotel Will Be Opened in the BuildingIts new owner would like to open a hotel in the newly bought Klotild Palace. The self-government organized an international, multi-round open tender for selling the building, which has been empty since 2009. They…

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A lot of people can’t see clearly when it comes to property-related insurances. Most misunderstandings occur related to the jurisdiction of apartment block insurance and home owner insurance. Before talking about the issue in details it must be stated that there are a lot of different constructions; the most frequent ones based on our personal experience will be reviewed below. 1. Apartment Block Insurance  Many think that any damage occurring within the building falls within the jurisdiction…

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