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Les prix de l'immoblier à Budapest

Posted in Investment on Dec 30, 2019

Real estate prices in Budapest

With 4.3 million tourists per year, frequentation in Budapest is important. The Hungarian capital offers its visitors many advantages, in particular through its beautiful apartments much cheaper than in other major European capitals.

Foreigners wishing to acquire a property have no trouble finding what they are looking for. The offer is abundant there, for apartments of all sizes (30m2 to more than 300m2 in general). It is more difficult to find property on the right bank of the Danube, Buda. In fact, the offers are mainly concentrated on the left bank, on the Pest side. This part of the city mainly developed at the end of the 19th and early 20th centuries.

The average price per square meter hovers around € 2,200. The price can go up to 4000 euros for the most chic addresses, like Andrassy Ut.

For example, a 90m2 3-room apartment in perfect condition in the 5th arrondissement (near the Parliament) is priced at 210,000 euros (2,333 € / m2). In even more upscale neighborhoods, for example Kodaly Korond, a 110m2 apartment is priced at 390,000 euros (€ 3,545 / m2). Of course, there are less expensive. 

In fact, in the 7th, 8th and 9th arrondissements, identical properties cost between 1,800 and 2,800 € / m2.

 It is also possible to find properties to renovate from A to Z. There are many in Budapest.

Agencies like Wellhom will spot them for you. The square meter costs from 800 to 1000 €. We must then add the cost of the renovation, much cheaper than in France (two to three times less), generally of very good quality. In order to make the purchase profitable as quickly as possible, short-term rentals (eg Airbnb) are a solution. It is possible to entrust the management which will cost between 5 and 10% of the rents.

Profitability is high. It often exceeds 8%. Taxes are unlikely to reduce it, as there are no local taxes or wealth tax in Hungary.

The profit made will be subject to a flat-rate tax of 15%. Finally, on resale, only 5 years are necessary for the realized capital gain to be totally exempt, unlike thirty years in France.

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