New developments
The primary reason is that many of our clients simply buy off plan without seeing the property first. During the Communist regime some apartment blocks suffered badly from lack of investment and whilst efforts are being made to rectify this they are not always successful. In Hungary we only recommend that purchases are made like this if the apartment is not older then 5 years.
This situation will be resolved in time and it does not detract from Hungary as a wise investment but in the short term at least, we have decided to refrain from listing older properties and concentrate on new properties which are of an international standard.
Of the properties currently listed in our database (at time of writing this was only 12, but these 12 represented some 3500 different properties) there are 2 which represent outstanding opportunities.
We briefly showcase these developments here.
Renaissance House…
Located in the historical district VII that is being rehabilitated totally in the next few years to be a new cultural and entertainment centre of downtown Budapest:
- Central location with superb
public transportation - Excellent rental
possibilities - Close to downtown business
district and large office centres nearby - Unique building with all
natural material used - Expected capital
appreciation of 15% pa - Inner green garden
- Underground parking with
card operated gate and CCTV system for 111 cars - Retail spaces on the ground
floor serving the residents - 5 minutes walking distance
from downtown Budapest, the Music Academy and main hotels
Platan Lawns Residential Park…
Property:
Platan Lawns Residential Park consists of 4 separate buildings: A, B, C, and D. All equipped with elevators. The 5-story buildings have duplex apartments on the top floor and underground garages in the basement floor. The four buildings house 323 apartments of various sizes ranging from 35m to 158m . There is underground parking space for 167 cars and open air parking plots for an additional 160 cars.
Buildings:
The walls are made of brick with concrete reinforcement. The roof is made of red ceramic tiles. Insulated glass panel doors and windows are applied for effective sound and heat insulation. White d cor paint over thermo insulating plaster and red brick over thermo insulating layer are applied on the fa ade. The interior walls of the common areas have white d cor covings; the floor tiling is made of granite powder ceramic tiles.