District IX
This district is the new up and coming area of Budapest that is currently
undergoing a
programme of regeneration.
There are a number of modern bars, cafés and restaurants that are currently
under
construction in this area. The local government is also investing heavily in the
continued
development of this district.
Off plan developments near the pedestrian streets are highly recommended for
real estate
investors seeking quality investment opportunities.
The area also benefits from well-appointed streets and squares with careful
traffic
connecting the residential areas of Ferencvaros with the historical downtown,
allowing them to assume lively big-city characteristics.
The district is continually developing, its renewal is ongoing, with more and
more
buildings becoming notable landmarks as part of the capital city.
The area is highly recommended as an upcoming district with price rises
averaging
between 9-15% per annum.
District 9 is one of the new hip spots in the city for young people buying their
first flat.
Located nearby are the universities with many foreign students who are looking
for
apartments to rent, especially on the blue metro line.
The New National Theatre is located close by as well as the more centrally
located
Raday Ucta, which is one of the best streets in the area for restaurants and
bars.
• Budapest property prices are significantly undervalued, with year-on-year
prices rising
by between 10 and 20% since 2004.
• Following a 17% per cent increase in the first six months of 2005, revenue
generated by tourism is predicted to more than double between now and 2010.
• 70% of all foreign investment is made in Budapest.
• Rental yields of anywhere between 6% and 15% depending on location.
• Predicted to be Europe's logistic centre of the future, Hungary's 16%
corporation tax is
one of the lowest rates in the EU.
• Of the 10 countries joining the EU on 1 May 2004, Hungary has proved to be the
most
dynamic, with one of the most stable and wealthy economies in Europe.
• There is a serious scarcity of suitable building plots in the city.
• More than 45 of the 50 largest Blue Chip multinationals have already
established their
European hubs in Budapest.
• A shortage of hi-spec new-build accommodation in the city centre (where much
of the residential accommodation is in need of renovation) has resulted in a
captive rental market
driven by increasingly affluent citizens and foreign employees.
• Budapest is the European capital with the lowest cost of living and
consequently the lowest property prices.
• 20% of Hungary's population resides in Budapest which generates 60% of
Hungary's
GDP.
• Budapest is an increasingly popular year-round city break destination due to
its enviable climate, rich cultural heritage, wide-ranging cosmopolitan appeal
and world-class transport infrastructure.
• Already served by budget airlines such as Easyjet, Wizz Air and British
Midland (in addition
to scheduled flights by British Airways and Malev).
BAA's successful 2006 bid for a 75% share of Budapest's Ferihegy Airport signals
the way for
further expansion and modernisation making Budapest a future mainstream hub for
flights throughout Europe and beyond
|
A boutique development.
