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Norbert StahlNorbert Stahl
2016-08-08
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As investors buy up Budapest apartments, prices continue to rise

When Viktor Balint and Lazslo Katona bought their first apartment in Budapest as an investment, they knew they were onto something big.

“Tourists from western Europe come here and they have a laughing fit because they can rent an apartment for so little,” Katona told Bloomberg.com. “We’re also smiling, looking at the profit.”


 

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Central Bank: Housing Price Growth “Not Excessive”

Housing prices in Hungary have rose by a stunning 21% in  2014 and 2015, much faster than the neighborhing countries, but according a report published by the Hungarian National Bank, this is not excessive growth. 

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Number Of Home Construction Permits in Hungary Go Up

According to the Hungarian Central Stastical Office, the number of construction permits and simple declaration of  new residential buildings have doubled in the first quarter of year compared to the same period in 2015. This further proves the outstanding optimism Hungarians have about the property market. 

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Real Estate Survey Index At Its Nine-Year Peak

According to a survey taken in January 2016 by GKI Economic Research Company, both Hungarian and Budapest real estate market indices were up by 3 points this quarter, representing a 35-quarter peak: 2007 was the last time the index was this high. 

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Reconstruction of Nehru wharf

Construction works have been going for a while on a large area behind the so-called “Whale”, and the Central Market Hall in the 9th District.

The municipality of the district has recently released the architectural design plans regarding the area, which are to be done at the end of this summer. 

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Property of the month - January

Our property of the month in January is a wonderful apartment overlooking the iconic and gorgeous St. Stephen's Basilica that is located right in the center of town, perfect for those wanting to be in the center of it all or within walking distance to main features that the city has to offer.

 

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Budapest Named One Of The World's Most Creative Cities By UNESCO

It was announced on December 11th along with 46 other cities from 33 countries that Budapest has been crowned by the UNESCO Creativity City Network, as one of the world's most creative cities, under the category of Design.

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New Homes Construction VAT drops to 5%

Most certainly the biggest news this week in real estate was Hungarian Parliament passing the bill to reduce the currently 27% VAT on construction on new residential properties to 5% from 1st January, 2016. 

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Christmas Fairs in Budapest Open

If you are new in Budapest and this is your first Christmas, don't be dismayed, there are loads to do and if there is one place that does it well, it is Budapest. Though it might come as a surprise for many newcomers here who are used to Christmas Eve as the day when Santa Claus comes, here in Hungary, the Mikulas nap (Santa Claus Day) falls on the 6th of December, where children shine their boots and leave them out for Santa Claus to fill them with treats and leave presents. 

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Further Growth In The Hungarian Residential Real Estate Market

 

A high 150 to 155 thousand residential property transactions are expected to happen this year alone within Hungary. This high number is almost parallel to the pre-crisis transaction stats of 2008. Most real estate experts concur that the trade will continue to grow within the coming years, and will most likely exceed the 170-180 thousand yearly transaction number, which was the case in the pre-crisis years. 

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Property Of The Month - November

 

For this month, our feature property is a house, recently refurbished and wonderfully Bauhaus. While maining the essence, beauty and full character of true Bauhaus design, the renovation and up-lift of this gorgeous house, is fully equipped with modern amenities and features.

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Property Investment Forum 2015

The 11th Portfolio Property Investment Forum is organized this year in the Hotel Intercontinental in downtown Budapest.
The all-day professional program is organized in association with RICS, and it offers 70 speakers, paralell thematic sections, and a standing reception in the evening. 

 

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