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.

Living in Luxury During the Studies August 30th, 2013

Those financially well-off university or college students, who live in the country, but study in Budapest, and who neither could rent an apartment nor got a place in the dorm, can stay in a premium-category private dorm during their studies. For the dorm rooms constructed from apartments the students have to pay a monthly HUF 24-40 thousand.   There’s a new trend in the real estate market: premium-category private dorms were built in Budapest. The owners would like to reach the financially…

Hungarian Economy Shows an Increasing Trend August 26th, 2013

Thanks to the past 3 years' government actions Hungarian economy now shows an increasing trend. With paying the IMF loan back before it was due the country proved it is economically independent and capable of financing itself. This fact is even more remarkable knowing the county has come out of the crisis in a technical sense as well. According to the words of Minister of State for Taxation and Monetary Affairs Gábor Orbán Hungary's economic politics are heading the right direction, no structural…

Metro Line 4 Will Be Ready by Next Spring August 26th, 2013

According to the plans, Metro Line 4 can be tested by passengers next spring. The stations will be tested in September, the metro cars in the end of the year (without passengers), the escalators will be ready by next February, and finally in March the future passengers can travel on the new Metro. According to the plans, the railcars of the new Metro Line 4 set off for their first ride with passengers on the 31st March 2014. Journalists have already had the opportunity to test the cars at the end…

The Most Expensive Luxury Apartment in Budapest August 26th, 2013

The most expensive luxury apartment in Budapest is located in the Buda Castle Quarter, and is for sale for HUF 2.04 billion. The 2-storey, 600-square-meter penthouse, which used to be 4 separated apartments contains 5 bedrooms, 9 bathrooms, 2 kitchens, a separate guest apartment, an office, an infrared sauna, a bar, a pool table and 6 parking spaces. The most expensive luxury apartment in Budapest is located in one of the most elegant metropolitan area, in the Buda Castle Quarter. It is for sale…

The Historical Millennium Underground Railway August 7th, 2013

The Millennium Underground Railway of Budapest - or the 'Little Underground' as the locals call it - was built in 1896 as the first European continental underground line. The 4.4-km-long line connecting Vörösmarty tér (5th district) and Mexikói út (14th district) has been functioning since, without any major problems.The first European underground steam railway was built in London in 1860-63, but the first continental one was the Budapest underground. The motor railway was taken into use on the…

Reconstruction of Dunakorzó Is to Begin in September August 7th, 2013

Besides the reconstruction of Kossuth tér and Ferenciek tere another renovation project takes place in the city centre. Dunakorzó and Váci utca are the next ones to be redone. The constructions begin this fall and expected to be finished by next March. The project costs HUF 4 billion. This fall another reconstructions begin in Budapest: after Kossuth tér and Ferenciek tere Dunakorzó (on the bank of river Danube), Váci utca and its bystreets, Molnár utca, the Olimpics Park, Balassi utca, Falk Miksa…

Rental Market Blooms, Prices Are Still Dropping – This is the right time to invest in Budapest! August 7th, 2013

The end of summer has come, and the renting market blooms, since a lot of university and college freshmen are looking for an apartment for rent from September. Thus for those who're planning to buy an apartment as an investment, it's worth to look around at the market now. Especially, since the prices have dropped even lower: now it's easier to get an apartment than any time in the past 13 years. Those who have an apartment they don't use as an own habitation, can sublet it easier at the end of…

Two Chinese Hotels Are Built Based on a Hungarian Model August 2nd, 2013

The Hungarian wellness hotels are popular abroad: two new Chinese hotels use the Hungarian model for their construction, and the health supplies used for the spa and medical treatments will be provided by Hungary, too. Wellness hotels are a relatively new kind of service in China. Two Chinese wellness hotels are built based on a Hungarian model, one in Beijing and another one in Taiwan. The models are the Carbona Hotel in Hévíz and the Spirit Hotel in Sárvár, and the health supplies used for the…

Budapest Landlords! We are in the middle of the rentals high season - Get your property rented now! August 2nd, 2013

This is the best time in the year to find a good tenant in to your Budapest property. Is your property vacant? Will your current tenant leave the apartment within a month? We are ready to rent out your apartment! Clirck here to register Why Tower? • Professional English and Hungarian Websites • Using other popular local sites • Strategic relationships with universities (CEU, ELTE) • Database marketing (pro-active presentation of your apartment to clients looking for similar type of properties) •…

Hungarian Grand Prix Adds HUF 20 Billion to the Country’s Budget July 26th, 2013

Hungarian Grand Prix Adds HUF 20 Billion to the Country’s BudgetAccording to 2011 data the Hungarian Grand Prix adds HUF 20 billion to the country’s budget, advertising value not included. The Grand Prix has 200 thousand visitors annually, 80 percent of them are tourists. They spend over HUF 200 thousand on average during their visit.Hungarian History of Formula-1The Hungarian Grand Prix has been organized annually since 1986. It’s held at Hungaroring track in the city of Mogyoród near Budapest.…

Never Been Easier to Buy an Apartment – Tower International Can Help You to Buy Smart and Make the Right Decision July 22nd, 2013

Looking at the last few years’ apartment prices we can say it’s never been easier to buy an apartment, since they’re cheaper than ever. Last year one-third as many apartments were sold as ten years ago. No increase is expected for 2013: ca. 10 thousand apartments will be built countrywide from which 1500 in the capital.Since 2003 the apartment prices have never been this low; so for those who have a permanent job and salary getting an apartment is easier than ever. According to FHB Lakásárindex’s…

Another Global Brand Opens Store in Budapest July 22nd, 2013

The Michal Negrin fashion company, that has stores in 23 countries, opened it’s new facility in Budapest. The brand which produces formal clothing, jewelry, decoration items and other accessories, has moved into the building of Váci1 Shopping Centre.Another global brand has moved to Budapest. The Michal Negrin fashion company, which produces mostly fashion jewelry and formal clothing, opened it’s new store on the 6th June in Váci1 Shopping Centre (Váci1 Üzletház). The tenant, Leman-Line Ltd. already…

New German and Russian Investments in Hungary July 22nd, 2013

A German and a Russian investor have chosen Hungary for their expansions. The German airlines, Lufthansa increases the size of it’s storage buildings in Budapest, and a Russian lamp manufacturing company opens a new plant in Balatonlelle, which is planned to be finished by the beginning of next year.Lufthansa Airlines has had a storage building at Budapest for 12 years, and now they‘ve rented another building from Budapest Airport. The company will employ new skilled airplane mechanics to work in…

Reconstruction of the Buda Castle Will Be Finished by November July 22nd, 2013

Several supporting walls of the Buda Castle will be renovated by November. The construction started in June. The 3 walls which are to be redone were renovated 50 years ago for the last time; but according to the results of a 2010 examination the time has come for a new restoration. The construction work will cost HUF 750 million. The reconstruction of the Eastern supporting walls of the Buda Castle started in the end of June is expected to be done by November. The 3 walls (No. 5, No. 7 and…

Get Free Property Management in 2013! June 27th, 2013

Enough of lack of professionalism, low visibility, huge outstanding bills?Why don't you save money and get the service of the Leading Property Services Group in Budapest?Switch to Tower now and get free management in 2013!*Why Tower?- Online Access for Landlords - Real Time Updates, Mobile Application - Test it now- 96% Occupancy on Managed Properties – Tenants are waiting to rent your property- Managing Close to 700 Properties – How?- No Takeover Fee - Get a detailed property status report at takeover…

The Region's Property Investments Increased with One-Third June 27th, 2013

The number of property investments increased in the first five months of 2013. Until the end of May HUF 3.7-billion-worth of property was sold, which is 30 percent higher than that in the same period of last year.According to the results of the annual investment survey of the international commercial real estate services firm CBRE – which had 360 participants – Central and East Europe is the most attractive area for investments for 14 percent of the investors.The Hungarian Market Also Shows an IncreaseThe…

Luxury Real Estate Buyers Pay with Cash June 27th, 2013

For those who invest in Hungarian luxury real estate it takes longer time to make a decision on buying, opposed to those who are interested in properties of a lower worth. Luxury real estate buyers usually buy for cash, not on credit. Luxury properties situated in Budapest, in the agglomeration and at Lake Balaton are the best sellers.Luxury apartments worth more than HUF 100 million and houses worth more than HUF 300 million are the most popular among the investors. At the Pest side of Budapest…

Development of the Palotanegyed Continues June 27th, 2013

The second part of the restoration of the Palotanegyed is about to start in September. The development of the area located between the Grand Boulevard and the Small Boulevard costs HUF 800 million, of which HUF 500 million is expected to be provided via a tender. According to the plans the construction is about to be finished by fall of next year.The Palotanegyed (Palace District) is the inner part of the Eighth District of Budapest called Józsefváros (Joseph Town). It is located east behind the…

Real Estate Industry is Predicted to Grow at 10 Percent June 27th, 2013

The real estate industry changes cyclically, according to the current trends in the economy. The changes in the industry mirror the given country's history of economy. For example, in the USA the real estate industry was blooming after the World War II, decreased in the 1970s, increased in the early 1980s, decreased again in the late 1980s, and rose at the end of the 1990s. In spite of the low interest rates, the industry was blooming in the mid-2000s, up to the beginning of the crisis.The Location…

Why to Invest in Hungary? June 27th, 2013

With its central location in the continent, Hungary is a popular destination for investors who would like to expand their business in Central or Eastern Europe. The country's greatest assets are the transport infrastructure and the quality of education and labor force. Several companies in the automotive, electronics, pharmaceutical and food industry have a subsidiary in Hungary.TransportBecause of Hungary's central location in Europe, the country is at crossroads of four European transportation…