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Real Estate Budapest

2009-01-29 By: Róth Miklós

Real Estate Budapest

Budapest is considered at present as one of the great investment cities for real estate in Europe. Not only is the city excellent for any business ventures, but also a great host for a range of property investment strategies including domestic purchasing of houses, apartments, condominiums, offices and buildings located in the center are all expected to generate a significant ROI over the coming years. One of the best reasons why houses for sale in Hungary are productive is due to the strategic location of the country in the entire of Europe. The capital city has a number of investment agencies that offer all sorts of properties for sale in Hungary at highly competitive prices.

Real estate Budapest

Another factor that encourages people to invest on real estate Budapest city is the presence of full loan and mortgage services. The capital also offers a one-stop acquisition service for most of its investors as well as many agencies, which can provide for a comprehensive property management service. The investment network is so vast also as too include a number of consultants, agents and agencies with expertise in real estate. The city has also one of the highest quality customer service oriented venture sectors in Europe. Together with the desire of the city to improve the market of Budapest is resulting in a continually drive to open the gates to overseas business and to also preserve the historical sites and properties of the city which marries both the historical and modernistic views of the city into a city both tradition yet forward thinking. The city is often compared to Paris and is even called the Paris of the East. Nevertheless, unlike Paris, the city is absolutely less costly than Paris, London or other most expensive cities to live in Europe.

Real Estate Budapest

The city, being the capital of Hungary, is also expected to propel its economy more aggressively in the next six years as an anticipated outcome of the much publicized 25 billion Euro investments by the European Union to Hungary. Other than the public investments that Budapest received, the city is also expected to accumulate another 25 billion Euro worth of investments from the private sector. Still another excellent investment incentive is the no capital gains tax policy that was implemented at the start of 2008 for an investor who owned a property in the city for more than five years. This is aside from the fact that for the past decade in the Hungarian economy, the country has continuously experienced a strong economic growth through the enormous investments from multinational corporations, which contributed, to more than 40 percent of the yearly GDP of Hungary.

There are massive infrastructure projects being undertaken and to be undertaken in Hungary property and particularly in real estate Budapest, which include the new, motorways and the metro line which will all the more improve the real estate sector of the city with more convenient transportation system expected to be in place not later than the year 2010. According Mr. Robles, many of the investors in Budapest are already able to experience a high return on their capital. It also mentioned that in several districts in the city, the price rises at an average of about 9 to 15 percent per year while the rest of the districts have prices that rise at 7 to 12 percent. The trend also revealed that there is much demand for newly built real estates. It is expected that real estate investment in the city would be low-risk and profitable over the medium term, if local housing standards are benchmarked adequately.