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.

​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…

​Get ready for the high season – 3 tips for Landlords June 30th, 2014

The summer months and September are the busiest season on the rentals market.This is the very time to find a good tenant. You have to make sure your product is attractive enough on the market.We collected 3 points which can help you to get your apartment prepared.1. Attractive furnitureYou might bought the property with used furniture and you think the condition is acceptable.However, if your potential tenants  find another similar type of apartment with nicer furniture they will go for that.It…

„I’m going to rent out my apartment for short term” - 3 fictions about holiday lets in Budapest. June 30th, 2014

​Many think buying a property in Budapest and start a holiday let business works in any case.We collected some of the popular misbeliefs we frequently hear.1. “I can reach better yield with short term rentals”If you decide to go with short term rentals you have to count with seasonality. There are some dead periods during the year so your income might be periodical. When the property is empty you still have to pay the common cost and the utility basic charges without income. In contrast to the long…

​Summer Houses at Lake Balaton Are High in Demand June 19th, 2014

Besides having an own apartment having a summer house at Lake Balaton is the thing most Hungarians dream about. As summer gets closer, summer houses become higher in demand. We can find the most expensive ones at Siófok, Fonyód and Balatonfüred, and the least expensive ones in Marcali and Tapolca.Most of those who would like to buy a summer house at Lake Balaton are looking for a newly-built apartment. Though since the beginning of the economic crisis less and less apartments have been built, construction…

​Budapest is the 10th Best Place for a One-Night Trip June 19th, 2014

Budapest got an honorable place on a tourism related list again. This time American travel site TripAdvisor searched for cities where it’s the most worth to spend a night. Amongst the 48 listed countries Hungary got the 10th place.American travel site TripAdvisor examined the 48 most popular travel destinations to determine where it is the cheapest to spend a night. They used a cost comparing analysis called TripIndex Cities to know how much the services needed for a great night-out cost, such as…

​Hungary is One of the Most Livable Countries June 19th, 2014

Though a lot of Hungarians move abroad to try their luck, others find Hungary one of the most livable countries, and have many reasons to stay. They like the pleasant climate, the education opportunities and Lake Balaton.Economic news site Portfolio.hu made a poll about the reasons why Hungarians like to live in their country. The recent results show only 9 percent answered they don’t. The rest of them mentioned the pleasurable climate or the abundance of historical monuments as reasons to stay.…

​The Former Holiday Resort on Rózsadomb is for Sale for HUF 5 Billion June 16th, 2014

Its owner decided to sell the former holiday resort of the former National Council of Trade Unions on Rózsadomb. The property, which is located on one of the most exclusive sites of Hungary, is for sale for HUF 5 billion. The building, which has been standing deserted for years, has a beautiful view to the city.It was revealed in June that CIB Group is looking for an investor to buy its property located on Rózsadomb. Cushman & Wakefield is in charge of the sale of the former holiday resort of…

​15 Automotive Companies Create 4 Thousand New Jobs in Hungary June 16th, 2014

More than 4 thousand new jobs will be created and HUF 320 billion spent by those 15 automotive companies that will be responsible for this year’s biggest investments. The biggest one is that of Hankook Tire: the new factory that is to be built in Rácalmás will provide 950 new workplaces.Hungary is getting more and more popular among the foreign investors: almost 4100 new workplaces are going to be created by those 15 automotive companies that will be responsible for this year’s biggest investments:…

​Renewal of the Line of Tram No. 1 Continues June 16th, 2014

The next part of the reconstruction of the tram no. 1 was started on the 10th June. The part that is planned to be ready by the beginning of September includes the renewal of the line in the 14th district, and its extension also continues.The next part of the reconstruction of the tram no. 1 begun on the 10th June, which, according to the plans, will be finished by the beginning of September. According to the BKK Centre for Budapest Transport the current part of the reconstruction includes the renewal…

​Reconstruction of Széll Kálmán Tér Is about to Start June 4th, 2014

After the long planning process the reconstruction of Széll Kálmán tér can finally begin in June. The work must be finished by the end of next year. The BKK Centre for Budapest Transport has already made a decision of the constructor. The reconstruction is expected to cost HUF 5.3 billion.Hopefully the long-awaited reconstruction of Széll Kálmán tér won’t be postponed again. According to the plans the work will be started in June. The reconstruction must be finished by next December, since that…

​Apartments can Be Built on the Property of Rába Factory June 4th, 2014

Apartments are planned to be built on the 43-ha industrial area of Rába Automotive Holding Plc. in Győr. The preparation for the HUF 150-billion investment can begin next year; currently the costs of land arrangement are being calculated. According to the plans of Rába Automotive Holding Plc. a residential area will be built on the 43-ha industrial area of the factory in Győr. The preparation for the investment can be started in 2015, if the factory manages to get the costs of the rearrangement…

​Reconstruction of Széll Kálmán Tér Is about to Start June 4th, 2014

After the long planning process the reconstruction of Széll Kálmán tér can finally begin in June. The work must be finished by the end of next year. The BKK Centre for Budapest Transport has already made a decision of the constructor. The reconstruction is expected to cost HUF 5.3 billion.Hopefully the long-awaited reconstruction of Széll Kálmán tér won’t be postponed again. According to the plans the work will be started in June. The reconstruction must be finished by next December, since that…

​Budapest Has the Best Price/Value Rate June 4th, 2014

After 2013 Budapest became the city with the best price/value rate in 2014 again according to the ranking of travel site TripAdvisor published at the end of May. The Hungarian capital was ranked 1st by 54 thousand visitors in one of the 16 categories, overtaking Lisbon and Hanoi.Budapest got the 1st place in 2014 again in the category of the cities with the best price/value rate according to the US-based travel site TripAdvisor. The world’s largest travel site published the results of its survey…

Good photos will sell your property – See some real examples May 29th, 2014

There is high competition on the online property market. People searching for flats browse long lists of property ads. How can you make sure that your property will attract attention? Many owners think that pictures taken by a smartphone is just good enough to advertise their properties. However, a property advertized with images taken by a professional photographer do rent much faster. See below what a property looks like on a photo taken with a smartphone and on a picture taken by the professional…

Why pay the Tax Man twice? Find out the tricks of the trade from a Hungarian financial expert May 29th, 2014

“Paying tax twice is a real danger for foreign property owners” – an interview with Krisztian Cornides, Chartered Accountant, Finance Director of Tower-International.Is it necessary to pay income tax on rental income in Hungary if somebody has already paid it at home?Hungary signed double taxation treaty with more than 80 countries. (Full list available here) These agreements and regulations help to avoid the situation to pay tax on the same income twice. The logic of these agreements…

Budapest Is Going to Be a Smart City May 27th, 2014

Design Terminal organized a tender with the aim of making Budapest a “smart city”. The purpose of the smart city conceptions is to optimize the cities’ sources, and to make city life more pleasant. The contest called Smart City Lab Budapest is waiting for entries in 3 categories, including traffic, water and urban green areas.Design Terminal launched a tender in 2014, which is open for designers, institutes, companies and civil people. The aim is to build, develop and modernize urban spaces and…

​Bicycle Sharing System BuBi Is to Be Launched in May May 26th, 2014

Bicycle Sharing System MOL BuBi is to be launched in May. After the test months in March and April when the locals could try the system, the service is planned to be started at the beginning of May. Using the system anyone can rent a bike for a half an hour from one of the 76 docking stations.The launch of bicycle sharing system BuBi was to be in April, but according to the new plans the system starts at the beginning of May. In March and April the BKK Centre for Budapest Transport and the Hungarian…