Country: Hungary
27 October 2009
The worst of the Hungary property market downturn is now over, according to Ecostat’s Real Estate Barometer.
The gauge shows that the latest measure of sentiment on the Hungarian property market measured 35.4% in Q3 2009, up 1.54% quarter-on-quarter, the first quarterly rise recorded this year.
The Hungarian real estate sector has endured a torrid time over the past few years, with prices plummeting across the country, as the Hungarian economy struggled to cope with the global economic downturn.
However, the worst of the Hungarian property downturn is now over, according to Pal Belyo, head of Ecostat, who projects that Hungary’s property market will stagnate over the next six months.
The Ecostat retail index increased by 6.35% to 41.4% in the third quarter, suggesting that the number of Hungarian homes sold will increase moderately over the coming months.
The research also shows that demand is currently greatest for homes measuring around 50sqm.
Although property values have fallen, Belyo says that average rental prices have increased 10% over the past three years, making Hungary a more attractive investment proposition for international buy to let property investors.
See Also: Ecostat, Hungary, Marc Da-Silva, Pal Belyo
Price: £13,150
Type: Apartment
Bedrooms: 1
This one room flat located in the 8 distinct on the second floor. It needs to renovate. It is courtyard facing. It is near to Teleki Ter market place. It is about 10 minutes walk from the Blaha Lujza Ter. Public transport is excellent.
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Price: £27,122
This flat is in the heart of Zugl?. It is on the ground floor. It has one room, kitchen and shower. The public transport access is excellent. You can reach the centre of Budapest within 15 minutes with several buses.
Price: £36,163
The flat is located in the district 18 on Reviczky Gyula Street. It is newly built flat of one big living room, American-style kitchen, balcony and beautiful garden. The flat has parking space with it also. The apartment is pre-let.
Price: £41,916
Fantastic little studio flat in the VII district. Very close to several trolli lines and the Keleti railway station is a 7 minute walk. Right next door to Kaiser food store and DM.
Type: House
A new 6-storey block of condominiums in the city centre, consisting 93 flats and three levels of underground car park. It is called 'Kasztilia House' and is located on Kisfaludy utca. The flats rang in size from 33.4m2 to 86.
In a classic building, an apartment on ground floor with excellent layout is for sale. In part of the flat there is a gallery installed which forms a second level (28m2) in the apartment. There is a bedroom and a relatively big entry space.
Price: £44,629
The Corvin Area:Public Private Partnership Joint programs of the Investor and the MunicipalityInvestment : 320,000 m? new building construction for mixed useApartments, Offices, Hotels, Retail, Entertainment, Educational, Cultural.Value : ?575Million
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.
Price: £50,957
This is an excellent 1 room flat with a panoramic 15m2 balcony in a newly built building. Additionally you can purchase a parking space on the floor level for 4 000 000 HUF (circa 16 000 EUR).
Price: £51,779
The flat is located in the district 7 on Kazinczy utca (st). It is a newly built flat of one rooms in Renaissance H?z (House). The flat has modern design and it is 35 sq. m. It is on the second floor. There is a lift in the building.
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!
