Why is Budapest alluring? No Diminution in the Number of Property Buyers

Thanks to the attraction of investment the number of foreign property customers does not show a decreasing tendency. Investors are attracted by the competitive prices and the infrastructure in p-lace within the country. Data suggests that Foreign property buyers in Hungary and tendency shows that 5000-6000 foreign private persons buy property in Hungary. 4/5 of which consists of apartments, while next to the Lake Balaton they prefer summer houses. The biggest market is in Budapest and in the counties Somogy, Bács-Kiskun and Zala. 2006 most customers came from Germany, Romania, Ireland and Netherlands. In Budapest about 2000 foreign investors bought properties. Irish, British and Spanish citizens made up 56% of the investors. Approximately 2000-3000 foreign businessmen bought their properties through different companies. They prefer new or used premium properties for investments. Why is Budapest alluring? Budapest is alluring because of the lower prices of newly built apartments. In Prague or Warsaw these prices are 35-40 % higher. It seems that Budapest can keep its alluring position for a longer period of time. In Budapest the new build properties are very high quality and there is a suitable supply both in Buda and in the city centre.