Hungary2invest / Eye on Hungary /

Basic facts

  • Hungary is a member of the EU.
  • Population of Hungary: 10.1m.
  • Stable Democratic Political System.
  • 80% of GDP from private sector.
  • Well developed industrial infrastructure.
  • Protected private ownership of real estate.
  • Real estate prices are low by Western European standards (Average price per sqm of constructed dwelling: Ђ1035).
  • Population of Budapest: 1.7m.
  • Unemployment rate in Budapest: 4.1%.
  • Budapest is a World Heritage site.

Why should the Budapest market appreciate?

  • New EU membership.
  • Limited growth in supply of real estate in central districts.
  • Increasing foreign demand.
  • Low prices compared to other major EU capitals including Central European capitals.
  • Appreciation of “off-plan” purchases in new developments.

Following the collapse of communism, the Hungarian state has created the legal and economic environment to meet the requirements of foreign investors. EU accession has further removed barriers to competition and given foreign investors the same legal and financial conditions they are accustomed to in many of their own countries.

Budapest possesses the largest concentration of “aristocratic” architecture in Europe. A large number of city-centre buildings are over 75 years old.

By the end of privatization in the real estate sector, the share of privately owned residential properties has reached 90-92%. This ratio is the highest in Europe and possibly the world.

Large numbers of foreign workers come to Budapest in the banking and finance sectors. There are many embassies and banks located in our key investment area, which means there is a supply of discerning tenants living and working in the area.

There is a vibrant cultural scene with a splendid opera house, numerous theatres, concert halls and music and dance academies. New cafes, bars and restaurants opening daily to bring Budapest back to being the Paris of the East.