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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.


According to the analysis of real estate agency Duna House the number of foreign buyers of Hungarian property is increasing. In the 2000s mostly Western Europeans bought Hungarian apartments, but this year those from Slavic countries and from the Far East spent the most on Budapest property.515 Foreigners Bought an Apartment Here in the 3rd Quarter of 2014Comparing the last 3 years’ 3rd quarters it was revealed that in 2012 420 transactions were realized in which foreign buyers were involved; which…

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According to the advice of American newspaper Budget Travel tourists should visit Budapest instead of Prague. An article got published in the November issue of the paper –which has 680 thousand subscribers –, which advised the tourists to visit cheaper, less-known cities instead of popular destinations, because they provide a better price/value rate.Budapest Is a Better Place to Take a WalkThe article introduces Budapest, and encourages the reader to visit Hungary instead of the Czech Republic.…

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The number of the new apartments increased: according to the latest data of KSH 27 percent more apartments were built from January to September 2014 than in last year’s same period. The number of the construction permits also increased, by 30 percent. A total of 5168 new apartments were built from January to September this year.The Number of New Apartments Increased the Most in Small Towns The number of newly-built apartments shows a regional diffusion: 56 percent more apartments were built…

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Corvin sétány (Corvin Promenade) has won several prizes, and got an award again. The promenade located at the corner of Ferenc körút and Üllői út got the 2014 Global Awards for Excellence of Urban Land Institute.The Promenade Got Several AwardsAfter winning International Property Award for “the best miscellaneous-function property development project of Europe”, the international Prix d’Excellence of FIABCI and CIJ Award for the best Hungarian commercial property development (which was given to…

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Metro line no. 4 opened in March 2014 is expected to make the neighborhood more valuable, and push apartment and commercial property prices up. According to the market analysis of OTP and CBRE the new line makes the Kelenföld railway station and its environment more valuable, and several new developments are to be realized there.A Shopping Center and an Office Complex Are to Be BuiltAccording to the plans a shopping center and an office complex will be built at the terminal station of the line,…

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The aim of the development of Hajógyári Island expected to be realized between 2015 and 2018 is to make the area an important community and cultural center. Within the confines of the development the Hadrianus Palace and its environment will be reconstructed.A Cultural, Sports and Recreation Park Is to Be Built HereAccording to the plans the former shipyard buildings located at the southern side of the Hajógyári Island will be used as communal and cultural facilities. A multifunctional sports and…

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Lots of parents try to make sure their kids won’t have any problem in the future moving in their new apartments. For making them easier to create a home, the parents buy an apartment for the kids they can move in when they’ve finished their studies; thus they don’t have to take a loan to be able to get their own apartments.Favorable Loan Conditions and Property Investment OptionsNow it’s worth to buy an apartment for the kids even if they haven’t finished their studies or just have started high…

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The constructions aiming to enhance the area of Millenáris Park are to be started this fall. Several buildings have been knocked down to be able to provide more space to create new green areas in the park. Knocking down the buildings has cost HUF 970 million, and the remaining similar works will cost another HUF 950 million.Knocking Down a Building on Margit körút Was an Important StepThe Hungarian government announced in spring 2013 that Millenáris needed to be renewed. One of the most important…

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Example 1 – Extremely low rentA newly built apartment in district 8 was rented out way below the market price by another management agency.The rent paid by the current tenant was 40% less compared to the other apartments managed by Tower in the same block.Tower recently took over the management of the property.As a first step the lease agreement has been modified with the sitting tenant.Tower immediately negotiated 20% rent increase.In the long run the apartment can be rented out at another 20%…

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The number of the transactions on the real estate market hasn’t been this high as in this September since January 2012. According to the data of real estate agency Duna House 10059 transactions were realized in last month, which means this September has been the best month in 2014, and at the same time the second best in the past 5 years.25 Percent More Apartments Were Sold than in Last SeptemberIn last year’s same period 25 percent less apartments were sold than in this September, although that…

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According to the plans the metropolitan areas along the Danube will be developed by 2020; the reconstructions are expected to cost ca. HUF 230 billion. The plans of the leadership of the capital include building new bridges, harbors and metro lines, and reconstructing public spaces. Enhancing flood prevention is also a part of the plan, which can cost HUF 60 billion. They would also like to make the riverbanks to be easily accessible by foot, and they would develop the traffic relations as well.A…

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A Hungarian restaurant, Costes got the 25th best place on the list of Tripadvisor. The travel site listed the best restaurants in 2014 again, based on the votes of the readers. Costes located at Ráday utca, Budapest, owned by Károly Gerendai previously got a Michelin star, and got on the list with several Spanish, French and American restaurants among others.The 3 BestsEl Celler de Can Roca was selected as the best restaurant in 2014. The restaurant located in Girona, Spain offers the finest Spanish…

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Sometimes when we realize there was a break-in to our homes, we get so nervous we don’t know what to do. It’s important to remember these 3 steps, because with the help of them we can make it easier for ourselves and for those who can help us. Call the Police Call the police as soon as you can. It’s important, because this way it’s easier to catch the burglars, and sometimes you have to wait a lot for the crime scene investigators, especially at night. Don’t Touch Anything The more time we spend…

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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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