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.

Római-part Can Get a New Look October 4th, 2013

Római-part can get a new look based on plans of university students. The Round Table Association of Real Estate Developers started a contest called Római Part 2100, and is waiting for usable ideas. The purpose of the contest is to further increase the popularity of Római-part. The students of the chosen 6 universities can apply with their plans until November 2013.The Round Table Association of Real Estate Developers started a contest called Római Part 2100 at the 24th September 2013, and encourages…

The Hungarian State Is Getting the Citadel Back October 4th, 2013

Since the actions of the private companies managing the usage of the Citadel didn’t meet the requirements of the World Heritage Site laws, the Hungarian state takes the monument back. The Citadel was originally a fortress, which was built in 1894 in commission by the Habsburgs. The monument was pronounced a World Heritage Site in 1987.According to a regulation made at the beginning of October 2013, since the currant usage of the Citadel didn’t meet the requirements of the World Heritage Site laws,…

The Most Expensive Property in Buda Was Bought by Russians October 4th, 2013

The most expensive property in Buda, the Akadémia Park in the 2nd district and the two office buildings located there were bought by a Russian investor. A separate city centre with entertainment and sport facilities was to be built at the 12.6-ha area, but the investment hasn’t been realized. The new owner, who paid HUF 10.1 billion for the property, would like to continue the construction.A Swedish project company owned by a Russian investor bought one of the most expensive properties in Buda,…

HUF 1-Billion-Worth Renovations in Rudas Bath October 4th, 2013

A HUF 1-billion-worth renovation is about to start in Rudas Bath: the southern wing is to be renewed, the guests get a new locker room and several saunas, and a bridge will be built over the hall. The construction is about to start at the end of October 2013 and be finished by at the end of August 2014.At the end of October a HUF 1-billion-worth renovation will begin in one of Budapest’s most popular thermal baths, Rudas Bath. Within the confines of the renovation the southern wing of the building…

750-Million Development in Győr October 4th, 2013

The city centre of Győr is about to be renewed. The investment will be realized by next summer, and the HUF 750 million cost will be covered by EU resources that Győr got by winning a tender. The small streets of the city centre and the relief roads will be reconstructed. Several information boards will be placed in the city to give some important data about famous Győr-born people. Győr got HUF 750 million for the renewal of the city centre. The contract of the rehabilitation project covered…

Budapest in the Top 10 October 4th, 2013

Budapest is in the Top 10 among 33 cities listed by their popularity in aspect of shopping tourism. The Hungarian capital got the 10th place taking over Milan, Vienna, Brussels or Moscow. But in aspect of its price standards Budapest ranked even higher, at the 6th place.According to the results of the newest study of Economist Intelligence Unit, the research department of the weekly newspaper The Economist, Budapest ranked at the 10th place on the list of the most popular cities listed by their…

The 10 Thousandth Employee Started Working in the Audi Factory in Győr September 25th, 2013

The 10 thousandth employee started working in the 20-year-old Audi factory in Győr. The factory provides jobs not only for the locals; the newest employee for example came from Heves County, and started working in the engine manufacturing department. A new engine is manufactured in every ten seconds in the factory; which means a daily 8 thousand pieces are made.The 10 thousandth employee started working in the Audi factory in Győr. Norbert Honfi came from Felsőtárkány, Heves County, and started…

An Exclusive Medical and Sport Centre Was Opened in Buda September 25th, 2013

A new medical and sport centre, F&M Fitness and More was opened at the end of August in the MoM Sport building in the 12th district. The purpose of the new facility is to help injured sportsmen to gain their health back with the aid of modern medical methods.Buda’s new medical and sport centre, F&M Fitness and More was opened in the MoM Sport building in Csörsz utca in the 12th district on the 24th August 2013. The costs (HUF 600 million) of the foundation of the centre – which is the first…

A Novelty Video Promotes Budapest September 25th, 2013

A young photographer chose a novelty way to promote the Hungarian capital. Norbert Németh made a time-lapse video of Budapest of more than 8 thousand photos. Watching the video we can see the capital and its monuments day and night, in winter and in summer, with and without a crowd of locals and tourists.The young photographer Norbert Németh created a special time-lapse video of Budapest. He took more than 50 thousand pictures for the video, from which 8500 pieces were used for the final version.…

Did you know? - The Most and Least Expensive Apartments in Hungary September 20th, 2013

There's a vast chasm between the prices of the most and the least expensive Hungarian properties. In the first case the price can be more than HUF 2 million per square meter, and in the latter one it is only around HUF 10 thousand. The most expensive property in Hungary is currently a luxury apartment in the city centre with a view at the Danube, and one of the least expensive ones is an adobe house in Nyíregyháza.There's a not less than 160-times difference between the prices per square meter of…

Andrássy út Is Getting More and More Popular on the Real Estate Market September 20th, 2013

The rentable offices on Andrássy út are more and more popular. Luxury fashion brands have opened their stores on the boulevard, and new cafés and restaurants are waiting for their guests. Thanks to these changes the number of customers and tourists visiting this area has also increased.According to the information of commercial property and real estate services adviser CBRE more and more renters choose an office located at Andrássy út. The part between Oktogon and Nagymező utca is popular amongst…

How to Rent Out Your Property and Escape from Paying a Fine September 20th, 2013

The Hungarian National Tax and Customs Administration is supervising the implementation of tax rules related to renting out apartments more frequently. The property owners' ill-wishers often report them to the tax administration wishing they would have to pay a fine for not paying taxes after their income. Thus, if those who llet would like to escape from fines, they'd better have their books done by real tax experts.The Hungarian National Tax and Customs Administration is supervising the implementation…

Madách tér Is to Be Renewed: a Fountain Replaces the Parking Lot September 12th, 2013

The renewal of Madách tér located in the 7th district starts in October. According to the plans the square is to be a real community place with green areas, trees, bicycle racks, benches and a fountain. The old ducting will be replaced and the parking lot will be knocked down. The renewal will cost HUF 150-200 million, and can be finished in a few months.   The renewal and modernizing of Madách tér can be started at the beginning of October and finished in a few months. The 85-year-old ducting…

Japanese-Hungarian Partnership Grows Stronger: the New Suzuki Model is Out September 12th, 2013

Hungarian Prime Minister Viktor Orbán, the Japanese ambassador to Hungary and the president and CEO of Suzuki Motor Corporation welcomed together the beginning of the Hungarian mass production of Suzuki’s new model. In the factory located in Esztergom more than 2 million cars have been manufactured since it’s opening in 1991.   Hungarian Prime Minister Viktor Orbán, Japanese ambassador to Hungary Yamamoto Tadamichi and the president and CEO of Suzuki Motor Corporation Osamu Suzuki welcomed…

HUF 48-Billion-Worth Investments Were Realized in Hungary in the First Half of 2013 September 12th, 2013

Up to July 2013 in total HUF 48 billion worth real estate investments were realized in Hungary. The North American and the Middle Eastern investors are more and more active in the European real estate market. They were responsible for one quarter of the Hungarian real estate transactions. Since 2007 this has been Europe's best quarter.According to the newest data of commercial property and real estate services adviser CBRE EUR 163 million (HUF 48 billion) worth investments were realized in Hungary…

Foreign Currency Mortgage Loans’ Monthly Repayments May Be Reduced September 9th, 2013

The Hungarian government got a law proposal from the Hungarian Banking Association about changing foreign currency loans into home currency loans at the end of August. If this will be made into an actual law, the monthly repayments can be reduced by 16 percent. This would be good news for all those who took a foreign currency mortgage loan, including foreign investors. Hungarian government got several law proposals from the Hungarian Banking Association on the 27th of August, including one…

Tram Line No. 2 is the World's 7th Best Line September 9th, 2013

The renowned American magazine, National Geographic made a list of the top 10 tram lines of the world, and gave the Budapest tram line no. 2 the 7th place. Tram line no. 2 became the best line in Europe, better than the lines of Lisbon or Amsterdam. The tram line passes some of Budapest's most beautiful buildings, like the Parliament Building or the Hungarian Academy of Sciences.The tram line no. 2 of Budapest is amongst the top 10 lines of the world. The world famous American monthly magazine,…

Ballet Academy’s Building is Planned to Be Reconstructed into a Luxury Hotel September 9th, 2013

The Portuguese owner of the building located on Andrássy út that was once home for the Hungarian Ballet Academy has had a declaration of willingness signed by Zara Invest AG to buy the property. The owner-to-be is planning to reconstruct the building into a five-star hotel.   The current owner of the building located on Andrássy út that was once home for the Hungarian Ballet Academy, the Portuguese QPR Investimentos S.A. and the future owner, Zara Invest A.G. signed a contract. Zara Invest…

17-Billion Investment in Debrecen August 30th, 2013

A new traffic centre is about to be built in Debrecen. The 43-thousand-square-meter complex is going to contain a railway and a bus station, several offices, retail and catering facilities, and its building will cost HUF 17 billion. The construction of the complex in the university city is to be realized in the 2014-2020 EU budget period.   A new traffic centre is planned to be built in Debrecen. According to the plans the construction of the centre is to be realized in the 2014-2020 EU budget…

A Luxury Shopping Centre is to Be Opened in Andrássy út August 30th, 2013

A new luxury shopping centre is to be opened at Andrássy út at the beginning of September. Visiting the store called Il Bacio di Stile, owned by Docler Holding the customers can browse amongst the products of the most renowned designers. Thanks to the investment the iconic boulevard, which is one of the World Heritage Sites, will allure even more tourists to the neighborhood.   According to the plans the new luxury shopping center of Budapest, Il Bacio di Stile („The Kiss of Style”) will be…