Hungary Property - Off-plan New Developments

EU accession in May 2004 has had a positive impact, hastening not only the spread of glossy western capitalism but a steady climb in the price of property in Hungary.

Significant upgrades to its legal and economic systems have transformed Hungary into a thriving market economy. Membership has accelerated economic development and with double the economic growth in comparison to EU average rates, Hungary is on its way to becoming Eastern Europe’s economic engine . A central geographical location and early open policy has favoured foreign investment with 40% of all FDI in the region ending up in Hungary, a third of which is US based.

As office and retail investment booms so too does Hungarian property. Prices are low by Western standards but forecasters warn that things will not stay this way. There is growing confidence in the region along with the increased availability of cheaper flights, which will encourage foreign Hungarian ownership and ultimately prompt a rise in Hungarian property prices. View all New Developments in Hungary

As the capital city, Budapest dominates the Hungarian economy, a surge in weekend tourism and increasing inbound and outbound business travel and has resulted in public and private money pouring into city construction development of hotels, shopping malls and office buildings, residential projects as well as improvements to airports, metro lines, motorways and logistics centres. Featuring the lowest cost of living of any major European city, an apartment here offers excellent value for money with city-centre Districts 5 (pedestrian shopping areas and parliament building) and 6 (business and banking districts) the principal areas attracting investment.

Hungary is a fast-developing and prosperous nation, attracting culture vultures and nature lovers alike this wonderful country is taking its place at the heart of Europe.