Search

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.


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…

Read more

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…

Read more

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…

Read more

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,…

Read more

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…

Read more

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…

Read more

The demolition of the roof of the house at Andrássy út which’s roof was burned down on the 15th July has begun. The roof of the building was seriously damaged in the fire. The remains need to be removed, since the building was declared life threateningly dangerous.The Demolition Can Be Ready by FallThe demolition of the roof is expected to be ready by the 8th November. During the construction some parts of Andrássy út, Kodály körönd and Szív utca will be closed from traffic. The company responsible…

Read more

In August and September the market of apartments for rent always gets busier, since university and college freshmen begin their rush for a place to live during their school years. Thus if you have an apartment to sublet near a university or college, you can sublet it now almost for sure. But it’s worth to pay attention to the following things.1. You need to sign a contract with the tenant, which contains the conditions of the sublet. The tenant needs to get a tenancy contract and a receipt after…

Read more

Budapest is among the bests again. This time it got the 11th place on the list of travel site Condé Nast Traveler, which asked the readers to name the friendliest cities. Budapest shares the 11th place with Austrian Salzburg. 1. Melbourne (Australia) and Auckland (New Zealand) Locals in Melbourne have a great sense of humor, and the city is full of nice parks. Auckland got the 1st place because of its nice people.   2. Victoria (BC, Canada) To see Victoria you need at least a week, but it’s…

Read more

You’ve been trying to sell your apartment for a long time, but you haven’t had any inquiries yet? You may not know what property features are the most important for apartment seekers. According to a phrase 3 things matter: location, location and location; but actually there are 4 important factors beside location. If your apartment doesn’t meet these, it may be worth less.1. Location: 52.5%According to the results of a survey made by economic website Pénzcentrum.hu based on the opinion of 4 renowned…

Read more

Property market seems to be waking up: more and more apartments are sold as a new home and as an investment as well. The most popular areas are the districts of the capital and the holiday resort areas in the country; apartments in the Budapest metropolitan are less in demand than a few years ago.The 6th and the 7th Districts Are the Most PopularAccording to 2013 sales data of real estate agency Duna House the first place on the top 45 list is occupied by the 6th district. In 2012 this place belonged…

Read more

The first water house of the world located in Kecskemét was built based on the idea of a Hungarian architect. In the house water flows between the double layers of the walls, the ceiling, the ground and the inner glass surfaces. The unique idea comes from architect Mátyás Gutai.Water Columns Increase ComfortThe 33-year-old architect graduated from the Budapest University of Technology and Economics, and later studied in Tokyo, where he still works doing research. The architect has been trying to…

Read more

The visuals of the future Puskás Ferenc Stadium have been presented. Building the new 68-thousand-capacity stadium costs HUF 70-100 billion which will be covered by the Hungarian government. The new facility is expected to be ready by 2018, and it will be home for 20 Olympic sports, concerts and other events. The building of the stadium itself costs HUF 60-80 billion, and that of the supplementary buildings costs HUF 10-20 billion.Much More than a Soccer FieldThe decision of building a new stadium…

Read more

Foreign investors’ interest in Hungary increased: 35 percent more money came to Hungary in the 2nd quarter of 2014 than in last year’s same period. Investors spent a total amount of EUR 44 billion (HUF 14 thousand billion) in Europe, which is 28 percent more than in 2013. The Central European region was 15 percent more popular; the popularity of Romania, the Czech Republic and Hungary increased the most.France Shines, Russia FallsAccording to the data of the study of CBRE France was one of the greatest…

Read more

Budapest is a frequent guest on the lists of the best places made by international travel sites: foreign tourists like the spectacular city center, the busy nightlife and low prices. But let’s see what they love the best.1. Shooting ClubsInstead of visiting the Castle or the Heroes’ Square tourists prefer places where their adrenaline level gets higher: for many of them the Celeritas Shooting Club in the 23rd district is the first place they go to after arriving at the airport.2. Adventure GamesTourists…

Read more

Is the management service still acceptable or it produces already loss for you? This article could help to recognize the problems in time.   1.            Lack of Communication  Are you waiting weeks or more than a month to get an answer for your e-mails? Your property manager does not pick up the phone or is always „busy”? Are there questions you never got answered? 50% of a good property management service is fieldwork; the other…

Read more

Why you need professional help to collect zero certificates in Hungary.   Once you have signed a contract to sell the property, as a seller you have one more obligation: you have to provide the zero certificates, (a statement by provider proving that your outstanding arrears is “zero”) from the utility companies and from the House Representative. The system in Hungary is quite bureaucratic. The procedure can be easier if your apartment had been well managed. On the contrary, it could be a nightmare…

Read more

The answer is yes. Check whether you are affected.The new law voids the Banks’ practices of making unilateral changes to all retail loans. Lenders must successfully defend such changes in court.HUF based debtors might experience these kind of changes too.Check whether the interest rate or other fees were unilateral modified in you agreement by the Bank. If the answer is yes, it is possible to expect some refund in the future.Source: hvg.hu, Budapest Business Journal

Read more

We collected the milestones of “bailout” legislation on FX loans in Hungary.  2011 - Early FX repayment option Debtors could pay back the remaining part of their mortgage on a fixed rate. This option was available only temporary. From September 2011 to February 2012 nearly 170.000 FX loans have been repaid. 2012 – Exchange rate limit Under the exchange-rate-limit scheme launched in spring 2012, borrowers may opt to cap their repayments based on the limit for up to five years. The difference…

Read more

In July the Hungarian Government accepted the new FX loan law. What can you expect?More property owners are enquiring about the recent legislation on issue of the Forex loan debtors. We collected some main elements of the law.The law voids the practices of using different exchange rates for disbursement and repayment of foreign currency-denominated loans and of making unilateral changes to all retail loans unless lenders successfully defend such changes in court – wrote the Budapest Business Journal.1.…

Read more

Type in Your name and e-mail address to

Subscribe to Our Seasonal Newsletter

What’s My Property Worth?

Request a professional property valuation today!

Property Valuation