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Overseas Property News
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Feeling lucky? Have a punt on property in Hungary
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
Some properties in Hungary
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Price: £882,000
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Type: House
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Bedrooms: 7
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Occupying a secluded location on the
edge of one of Hungary’s largest cities only 40 minutes from the airport and 45 minutes from the heart of Budapest.
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View details | Enquire further
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