Why Budapest property?
We firmly believe that investing in property in Budapest represents one of the safest and potentially most profitable property investments currently available in Europe. There are many reasons why we feel this way, but the following are the most striking.
Hungary became a full member of the EU on May 1st 2004. Its capital city, Budapest, is the centre of the country geographically, politically, economically and architecturally.
The benefits of EU membership are clear, and the associated economic growth is being felt most keenly, and rapidly, in Budapest, the engine of growth for the entire Hungarian economy.
Strong economic growth, now and in the future
Strong economic growth, now and in the future
The Hungarian economy has for over a decade demonstrated stellar, and stable growth. In the last ten years, Hungary’s GDP has grown at over 4% per year; roughly double that of the EU average for the same time period each and every year.
This is a clear and long-term trend of repeated strong growth, and a trend that will continue for the foreseeable future.
As the economic centre of the country, contributing over 40% of total Hungarian GDP per year, this growth is most visible, and will be most long lasting, in Budapest.
Faced with the rising costs of living and property in their home countries, most notably in the UK, many Western Europeans are now scouring Europe for locations where they can enjoy an affordable and comfortable retirement.
Budapest is such a location: a stunningly beautiful and thriving city where living costs are a mere fraction of the UK’s major towns and cities.
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Budapest a growing centre for tourism
Whilst the rise of the low-cost airline is making it easier and cheaper for British people to visit the city, Budapest is now also served by low-cost airlines from all major European cities.
As a result the city is teeming with tourists, and this huge increase in the turnover of visitors to the city has seen the market for short-term lets boom. For many Budapest property owners this provides a constant and risk free alternative income to long-term rentals.
As Hungarian interest rates fall as the nation prepares for imminent Euro adoption, local mortgage lending is becoming cheaper and more widespread. Parallel to this, competition in the local banking sector is also increasing dramatically, thus driving the cost of mortgage lending down further and stimulating the property market by creating a whole new class of able buyers.
The Budapest property market is both booming and extremely liquid. The range and quality of available properties is also dazzling, and value for money is still unbeatable than in any comparable city.
Simply put, investing in Budapest property today offers the opportunity to get in on the ground floor of an increasingly liquid market in the capital city of a fast growing EU member state primed for exponential growth in the medium to long-term,
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