Property in Hungary

Despite the recent downturn in many residential property markets, Budapest remains an attractive location for investment. In addition to one of the lowest price levels of any city in Europe, numerous indicators are currently pointing to further upward movement. Amongst the most visible is the ongoing drive by the government for European membership and a recent rush by premiere global luxury goods firms to open boutique shops along Pest’s majestic Andrássy Avenue.

Investors, however, need to be vigilant about what and where they are buying.

Whilst many developers and agencies are steering prospective investors towards flats in newly-built apartment blocks outside of the city centre, we believe a much better opportunity is offered through the acquisition of historic properties in the increasingly up-market areas in Pest’s District V and VI.

 

Property in Hungary

In such areas, it is currently possible to purchase a completely refurbished property in a richly-detailed pre-war building for €2,400-€3,200 per square metre, roughly equivalent to the price of characterless flats in “cookie-cutter” towers. Meanwhile, certain exclusive properties with river views or other notable characteristics can reach €4,500 per sqm.

In addition to being of far better quality, such flats are generally much easier to let to foreign business people and managers who remain the most sought-after tenants for owners of investment properties, and offer the best potential for long-term capital appreciation.

For more information on our investment services, general residential investment opportunities as well as specific properties that might meet your own criteria, please fill in the following form: