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Welcome to HungaryHungary's entry into the EU has presented a unique investment opportunity in the vibrant, cosmopolitan city of Budapest. This already thriving capital, is now playing host to some of the worlds leading companies as they take advantage of Budapest's strategic location and hard working, well educated workk force. |
Getting to Hungary
Budapest is well served by a variety of scheduled carriers, including low cost airlines such as Jet2.com
Properties available in the following locations:
Investment in Hungary
Until 1988 Hungary was firmly locked away from the outside world within the old Iron curtain of the Soviet block. Since the historic elections of 1990 governments have come and gone, but the administration of the country& rsquo s capital city Budapest remained in the hands of Gá bor Demszky ensuring a continued period of stability and growth. Of the ten new entrants to the European Union in 2004 Hungary& rsquo s economy has proved the most dynamic and it also has one of the highest per capita GDP& rsquo s. Many commentators and analysts have compared the Budapest property market to that of Ireland's (and in particular that of Dublin) during the first few years of the 1990's. Early bird investors have so far made a killing with Hungarian property in Budapest, but with all the economic indicators looking good, there is still a lot of growth to come.
Between 2003-05 the economy has seen a positive growth rate of 15-20% and in the Budapest property market, rental incomes have provided minimum yields of 7% rising to around 10%. There are a number of solid reasons and indicators to suggest that Hungary's economy should continue to grow at current rates. Politically Hungary is stable and its system of government is transparent which has led to numerous Fortune 500 companies moving all or part of their European workforce into the country.
Although between 1999 and 2003 Budapest property prices increased by 60 percent, property investors can feel secure that there is still much more to gain from buying Hungarian property here. The European Union has invested significantly in Hungary since May 2004 and this inward investment is set to continue. One important factor contributing to Hungary's continued economic success is the drive towards adoption of the Euro set for 2012. Government policy should remain sensible and stable in coming years as this target of further European integration is aimed for.
Another factor contributing to the growth in the property market and increases in prices of Hungarian property for sale in Budapest is geography. Fundamentally the city of Budapest is located at the heart of Europe, few of the other new EU entrants can boast such a positive location. As an ancient European capital city it has many of the charms and cosmopolitan nature of other major European cities, which coupled with the dynamism of the economy in the decade and a half since communism makes the still very low property prices extremely attractive for both investors and those looking for second homes in a European capital of culture.
Climate
Budapest enjoys warm, dry summers and cold, crisp winters.
Dining Out
Dining out in Budapest is a joy. A meeting place for all tastes and palates. There is a bewlildering array or restaurants selling top class international cuisine and traditional favourites at very reasonable prices.
