Country: Hungary
3 July 2009
Hungary could soon become the gambling capital of Europe after the US-based Hard Rock International company, proprietor of the Hard Rock Café chain, announced plans to invest around £4.3bn to construct the largest casino and hotel complex in the continent.
The company has already purchased land in Hungary, close to the Austrian and Slovakian border with a view to completing the first casino and hotel by 2012.
Hard Rock International has obtained permission from the government to operate up to five casinos.
Although the Hungary property market has prospered since the country gained independence from the Soviet Union’s communist rule in 1991, prices have suffered in recent years.
The short-term out look the property in Hungary looks rather sluggish, due to a number of socio-economic problems, connected to the dismantling of the communist system, while the country faces crippling public debt.
However, the country’s decision to open a series of new casinos should drive demand for nearby rental accommodation, presenting fresh buy-to-let opportunities for property investors.
Furthermore, Hungary has real hopes of joining the eurozone within the next few years, which should also appeal to property investors, as the transformation, is likely to culminate in some capital growth across parts of the country.
See Also: Casino, Europe, Hotel, Hungary, Marc Da-Silva, Overseas property investor news
Price: €56,000
Type: Studio, Apartments
Bedrooms: 1/2
The Corvin Project in Central Budapest is fast becoming the most popular and sought after investment primarily because of it's excellent location and the extremely competitive prices.
View details | Enquire further
Price: €62,000
Type: Apartment
City Centre Park Project as the name suggests, could not be more central Situated next to Blaha Lujza square, one of the major traffic junctions in downtown Budapest, where underground, Trams, motor buses & 24 hour electric buses are located.220
Price: €69,000
Park Residence is the latest release of 407 apartments to be located in front of Sun Resort.
Price: €96,500
Bedrooms: 2
Central location with superb public transportation by the Haller Tram Boulavard and Ulloi Ut (Airport road) where the new ‘Office corridor’ of Budapest is planned, close to all amenities and to several universities and situated five minutes from the
Price: €110,000
Type: penthouse apartment
Penthouse Apartment with Panoramic Views Of Mihaly Square 51 sqm. 1-2 Bed’ Apartment Quality Apartment with practical layouts located in a rapidly developing part of Budapest in District 8 Next to the new Rakoczi Ter Underground Station.220
Price: £882,000
Type: House
Bedrooms: 7
Occupying a secluded location on theedge of one of Hungary’s largest cities only 40 minutes from the airport and 45 minutes from the heart of Budapest.
Price: €69,000 to €148,000
The Sun Resort project will consist of 259 apartments overlooking the bustling shops & restaurants of the largest inner city regeneration project in central Europe.
Price from: €69,000
Bedrooms: 1 & 2
The long awaited next phase is finally here, and won't disappoint those investors waiting to grab a piece of the Corvin Pie!
