The "charm" of the title is what attracts the speculators. Herald Tribune, Real Estate Section, August 19, 2005 (f.b.)
Titolo originale: The charms of Budapest unveiled – Traduzione per Eddyburg di Fabrizio Bottini Paragonata a Praga, il cui magnifico centro storico oggi attira compratori di appartamenti quanto turisti, la più grande Budapest è stata meno magnetica per i cacciatori di proprietà in Centro Europa. Sino a poco fa. Dopotutto, a Budapest non manca certo il fascino. La collina del Castello nella zona alta di Buda, guarda a est oltre il Danubio; Hosok ter, o Piazza degli Eroi, a Pest, attira irresistibilmente gli ungheresi nelle giornate di festa nazionali; la tranquilla isola di Margaret, nel Danubio tra le due parti della città, sono solo alcune delle cose interessanti. L’ingresso dell’Ungheria nell’Unione European Union last year, combined with the expectation to join the Euro by 2010, has pushed up the prices of municipal solid Hapsburg-era buildings and other types of accommodation. New buildings, which, according to real estate agents are generally the safer bet for overseas buyers, also sell at higher prices, although the lack of building space in the center has kept construction activity to a minimum. "The pipeline in the central district, will close in around 18 months, offering high quality accommodation, simply can not keep up with demand," said Robert Beck of Avatar International, which Hungary specializes in new buildings. But other factors are increasing interest of foreigners to Budapest. Regular flights by EasyJet, Jet2 and other low-cost airlines from cities in Western Europe have made Budapest more accessible and cheaper to reach. Interest rates are falling while the financial market development - in a country where cash transactions were up to ten years - has made things easier. And the legal procedures have become simpler and more transparent: instead of having to find a company or a Hungarian partner, just a municipal permit, which usually can be obtained in one day. Meanwhile, urban renewal projects have transformed unremarkable in meeting places. The typical pedestrian Kiraly Street, in the old Jewish district of Pest, which is now home to some of the highest value of the city, or the square Franz Liszt, in close vicinity to Oktogon percent in Pest, plenty of bars and restaurants of trendy outdoor . Howard Duff, a British businessman from north Wales, was in Budapest only once before buying an apartment of 70 square meters. He paid 30 million Hungarian forints, or $ 150,000, the District VI, five minutes walk from the Opera House in downtown Pest. "I was impressed with what it offered the city, "he says. "It is dynamic and sophisticated, and despite the price increase, things still cost much less than in Western European cities." Unlike most foreign buyers, who buy for investment, Duff plans to use his apartment as a pied-à-terre. "I can get to Manchester Airport in 45 minutes and then catch a flight for two and a half hours to Budapest," he says. "That's quicker than driving in London." But if you change your mind, you may realize a profit on his purchase. Valerie Power of Eastern European Properties, an Irish company that focuses on Hungary and Slovakia, says that prices for new and historic buildings are appreciating by at least 10 percent and 30 percent a year, and the trend will increase in future. Typical rental yields are 6 percent. "The main interest is for buyers hoping to see their investment rise dramatically over the coming years," said Power, noting that the Irish and British buyers, priced out of domestic markets, are now driving the foreign market. Beck, the Post says that the desire for profit is a good reason why foreigners should consider carefully before purchasing. "The historic buildings in downtown Pest are wonderful to see, but if you look behind the plaster are structural problems and other type, "he said, adding that old elevators, poor security and lack of extras like swimming pools and gyms are all negative factors. So where and what to buy in Budapest? The most popular areas for foreigners have long Districts V, VI and VII, in downtown Pest. But agents say that the District V - home to the main five-star hotels of Budapest Vaci ut, the premier shopping street - is tapped out and are getting scarce opportunities for good investments in the other two districts. This is partly due to the shift toward the center of the people who were at that time transferred to the green belt to avoid commuting, and the M0 ring road Budapest, is still incomplete, and locals say that it takes more than an hour from downtown to the suburbs. There are opportunities in other areas. Although expensive (some agents use the word "overpriced"), Districts I and II - Buda - are quiet and the air is better thanks to restrictions on private cars in the area of \u200b\u200bCastle Hill. One of the most important interventions in District I is undoubtedly the Anjou Residence, two buildings with a total of 52 luxury apartments, many with views of the Danube. An apartment of 77 square feet sells for about 78 million Hungarian forints. Elsewhere, also in the luxury sector, there are apartments from 98 to 128 square meters at Riverside Apartment House District XIII in the north of Budapest. The starting price is 55 million forints, you have access to the swimming pool, sauna and other facilities. For those who prefer the 'old style, the choice is the District II, and in particular Rózsadomb, or Rose Hill, near the Margaret Bridge to Buda, with large houses and many embassies. The lack of space and high land prices reduce the amount of new interventions, but there are apartments in high-level Pusztaszeri ut. Julie Molnar of Budapest Resources describes this intervention as a unique, high quality insulation, copper tubing and other items. Prices range from 67 million to 130 million forints, with the highest price for the flats rooftop terrace.
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