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.

​Hungary Got 35 Percent More Foreign Money August 6th, 2014

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…

9 Things Tourists Love in Budapest August 6th, 2014

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…

3 signs of bad property management July 31st, 2014

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…

Zero certificates – Small things that can cause big problems when selling your property July 30th, 2014

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…

​Are HUF based mortgages affected by the New FX loan law? July 30th, 2014

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

​Focus on FX Loans – What happened so far July 30th, 2014

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…

​Focus on FX Loans – The New FX Loan Law July 30th, 2014

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.…

​More Properties Are Bought as an Investment July 30th, 2014

10 percent more apartments were sold in the 1st half of 2014 than in last year’s same period. More and more properties are bought as an investment, too: the new owners like to sublet the apartment, or sell it later at a higher price.Property market got busier and the number of those who bought an apartment as an investment also increased in the 1st half of 2014: 10 percent more properties were sold than in last year’s same period. Some investors would like to sell the apartment at a higher price…

11 Things CNN Thinks It’s Worth to Know About Hungary July 25th, 2014

CNN says Hungary is worth to be considered as a possible travel destination. The news portal mentioned several interesting, funny or surprising facts in an article earlier that need to be known about Hungary, from the Nobel Prize winners to the monuments to visit.1. The rate of Nobel Prize winners is very high in Hungary: between 1905 and 2004 13 Hungarians got the reward2. Gulyás (goulash) is not a ragout or a stew-like dish but a soup; and almost every food contains paprika including granny’s…

​Where to Buy an Apartment to Rent it Out for More Money July 25th, 2014

After the students got to know how many points they needed to get in the chosen college or university, those who managed to get in start looking for an apartment to rent, so there won’t be almost any apartments without a tenant soon.The future college and university students got to know about how many points they needed to get in to the chosen school on the 24th June. Those who managed to get in, and their school is located far from their home, will start looking for an apartment soon. According…

​6 Reasons Why Companies Should Move to Budapest July 25th, 2014

Hungary is a good choice for those companies who want to move their offices abroad. The Budapest office market has a lot of advantages: there are a lot of modern offices, and the work force is cheap and qualified.Do you want to know what the 6 reasons are why it’s worth for foreign companies to move their offices to Hungary? Below you can get to know why Budapest is better than Bratislava or Prague.1. Modern OfficesBudapest has the 2nd place on the list (behind Warsaw) of the cities having the most…

​A Thousand Test Users for Soon-to-Launch Budapest Bike Sharing System July 24th, 2014

Budapest Bike Sharing System MOL BuBi is to be launched soon. BKK Centre for Budapest Transport organized a test period, during which a thousand future users are going to test the new system. The test period started on the 17th July is expected to be finished in 2 weeks.The software development and the inside testing of Budapest bike sharing system MOL BuBi lasted longer it was expected, but it’s finally over, thus the process can be continued with a new phase: the public testing. BKK Centre for…

​Crisis May Have Ended on the Hungarian Office Market July 24th, 2014

A lot of Hungarian office spaces were rented in the 2nd quarter of 2014, and several current tenants renewed their contracts. The rate of the office spaces not yet rented decreased by 2.3 percent.According to experts we need some more successful quarters like the second one of 2014 was to say the crisis have finally ended on the office market. In the 2nd quarter of 2014 several new and current contracts were made and renewed. Although the success is yet temporary, the experts are optimistic about…

​Hungarians Like to Stay in the Country for Vacation July 24th, 2014

The number of domestic guest nights increased by 14 percent, and that of international guest nights decreased by 4.1 percent in Hungarian hotels this May comparing to last year’s same period. More and more Hungarians spend summer vacations in the country: the income of the hotels increased by 8 percent and their turnover by 2.9 percent.Hungarians are more likely to spend vacations in the country: according to the latest statistics 922 thousand domestic guest nights were spent in Hungarian hotels…

​June Was a Record-Breaking Month for the Real Estate Market July 24th, 2014

June was another record-breaking month for the property market, so this is maybe the last time when it’s worth to buy an apartment. According to the data of real estate agency Duna House June was another record-breaking month for the real estate industry: more apartments were sold than last month. Apartments in brick houses were the most popular. Investors also were more active: one-third of the apartments were bought as an investment. According to the data of the first half-year of 2014 we can…

​Reconstruction of City Park Gets Green Light July 24th, 2014

The construction regulation of the reconstruction of City Park was approved. Within the confines of the Liget Budapest Project several museums are to be moved here, and the park will be rehabilitated. The Liget Budapest Project is currently the biggest museum development investment in Europe.The construction regulation of the reconstruction of Városliget (City Park) was approved by the Metropolitan Assembly of the 30th June. Besides the rehabilitation of the park within the confines of the Liget…

​Metro Line No. 3 Is to Be Reconstructed July 24th, 2014

The agreement of the preparation or the reconstruction of the Metro Line no. 3 was approved. The reconstruction includes the renewal and the lengthening of the line towards the north. The work requires a HUF-1.2 billion self-government source.The development agreement of the preparation or the reconstruction of the Metro Line no. 3 was approved by the Metropolitan Assembly on the 30th June with 29 affirmative votes. The reconstruction may require a HUF-1.2 billion self-government source, and the…

​​One-Fifth of the Hungarians Would Redo Their Homes July 24th, 2014

One-fifth of the Hungarians would like to do smaller renovations in a year, and their long-term plans include the renewal of the insulation, the roof and the ducting. They are willing to pay up to HUF 1 million on the works.According to the results of the study made by roofing components manufacturer Lindab 20 percent of the Hungarians are planning to do minor reconstructions in the next one-year period. Last year 29 percent of the respondents said they would redo their homes, but 68 percent of…

​Lake Balaton vs. Adriatic Coast: Where to Buy a Holiday House? July 24th, 2014

FHB Bank made an analysis to determine where investors should buy a holiday house: near Lake Balaton or in popular foreign vacation destinations.  According to the results properties on the Montenegrin, the Bulgarian and the Egyptian seacoast cost the most compared to those in the inner county.FHB Bank made an analysis to determine in which popular vacation destinations – at Lake Balaton, the Croatian, the Bulgarian, the Romanian, the Montenegrin, the Egyptian, the Spanish seacoast, at Lake…

​Apartment Prices of Budapest Metropolitan Area Can Be Surprising July 24th, 2014

There’s a big difference in property prices of the cities in Budapest metropolitan area, thus those who are looking for a new home outside of the capital might face unpleasant surprises. An apartment can cost HUF 100-200 thousand more per square meter than one in another city.Those who would like to live in a green environment, tend to choose to leave Budapest and move to the metropolitan area. But those who are looking for a new home in the agglomeration might face unpleasant surprises, since there’s…