Insurance News Archive
Budapest recommended for Hungary investors
Hungary is a good area for property investors interested in the European market to buy, an expert claims.
Sean Ashdown, technical director of Aquavista Property Consultants, says it is primarily an investor market, with people usually opting for buy-to-let than their own dedicated properties.
As in the UK, student areas are popular and Mr Ashdown recommends areas five, six and seven in Budapest in particular.
He says many investors are choosing to buy properties in the capital for business reasons, as it is "surrounded by extremely good industrial places".
Mr Ashdown continues: "Microsoft and Bosch have offices and manufacturing locations all around Budapest, so it is strong in that respect."
According to International Property, growth rate in Hungary was steady at between 15-20 per cent in the two years either side of the country's accession to the European Union in 2004.
This resulted in minimum rental yields of six per cent, rising to around 15 per cent.
23 Jun 2008
