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Commercial Hotels and Property for Sale in Hungary

Sziv 61, District VI, Budapest - Hungary

Szív is a development in the highly sought after district VI in Budapest the gateway to Europe.
This development with its excellent location, design and layout is ideal for the Irish investor market be it a first time investment or forming part of a property portfolio.

Sziv 61 is a brand new development of 25 one and two bedroom apartments and duplexes.
20% now & nothing until completion!
Property No Longer Available
Property for sale in Hungary
Property for sale in Hungary
Property for sale in Hungary
Property for sale in Hungary
Property for sale in Hungary

This particular area is not new to the savvy investor with proven capital growth of minimum growth of 10-15% per annum in the past 3 years a scale that is sure to follow.

This project consists of 25 Parking spaces, 1 commercial unit and 25 Residential units. The construction will start late 2006 with a build programme of 14 months.

Investment Summary:
 
Attractive payment schedule: 20% now / 80% on completion

High quality development, Irish developer

Proven capital appreciation of 10%

Located off the famous Andrassy Street

Optional car parking spaces

1 bedrooms with 49,3 sqm from €82,747

2 bedrooms with 66,15 sqm from €109,145

Car parking space €13,000


Location:
Sziv 61 is located in the 6th district, an area referred to as the cultural district of the city. The building is close to all amenities including the West-End shopping centre, the Radisson and the Hilton hotels, not to mention the numerous restaurants and cafes. District VI is famous for its large number of theatres and in particular the magnificent Opera house as well as the Liszt Ferenc Music Academy. Andrassy Ut, one of the best known streets in Budapest is located in
this district, often described as the ‘Champs Elysees of Budapest’.
The Project:
Sziv 61 is a brand new development of 25 one and two bedroom apartments and duplexes. Constructed over seven floors the development is built around a central courtyard. The apartments range in size from 49.5sqm, most apartments will come with either a courtyard or street facing balcony and a storage area. Car parking spaces are available, representing a good investment in this location.

Why invest in Budapest (Hungary)?
Budapest is one of the great capital cities of Europe, the “Pearl of the Danube”. It is a quality city, which ranks well with cities like Paris or Vienna, and is located at the heart of the new enlarged Europe.

Budapest is very well located within Central Europe, and an excellent infrastructure means that it is very accessible from the rest of the continent. For instance, Vienna is a mere three-hour train ride away, and Bratislava, the Slovakian capital, is just two and a half hours away by train. Direct rail connections link Budapest to most of Europe, including Berlin, Trieste, etc.

Budapest has a superb infrastructure within the city, with a fully integrated public transport network, reputed to be the best in Europe. Other infrastructure, such as roads and fibre optic communication networks, is modern and well planned.

Property prices in Budapest, while rising, remain low by the standards that apply in the rest of Europe. While direct comparisons are difficult, prices in city centre Budapest are about half of those paid in other major capitals, including Dublin. Good quality two-bedroom apartments can still be found in Budapest at about eighty thousand Euros. The quality and value available in Budapest seem unbelievable to those of us more used to Irish prices, but this will not last, and prices seem destined to rise substantially over the next few years.

As an investment opportunity, our company and the markets predict excellent capital growth in this developing area. With capital appreciation predicted to be 15% for 2006, 2005 showed capital appreciation growth of 13.7% while 2004 increased to 12.7%. This level of appreciation is expected to continue for some time due to the fact that many of existing properties in Budapest are in need of renovation meaning there is big demand for newly built apartments in prime locations. Secondly, Budapest has attracted more regional company headquarters than any other Eastern European capital city, due to its central location in Europe. Companies such as GE Exxon-Mobil and Nokia have all set up international operations in Hungary.

Hungary’s accession to full membership of the EU in 2004, with probable transition to the Euro in 2008, is expected to impact strongly on property prices. A potential for significant capital gains would seem to exist.

Hungary enjoys stable western style government, as well as a well-educated population and superb infrastructure. The road and transport networks are far beyond anything, which we are likely to see in Ireland for many years to come, even after thirty years of EU membership. Hungary would seem to be entering the EU from a position of strength.

Property No Longer Available

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