Property Select - Overseas Property News

Hungary recommended to holidaymakers

Fri, 22 Feb 2008 00:00:00 GMT

International leisure travellers have been advised to consider taking a holiday in Hungary.

The eastern European country was recommended by freelance writer Kathryn Folliot, who told the Star that it offers a number of attractions.

She said visitors could enjoy high-quality accommodation and various leisure outlets, including restaurants and museums.

Ms Folliot added that the country was also easily accessible from many different locations, as flights to areas such as Budapest are widely available.

She commented: "Budapest is riding high on this interest, developing infrastructure and adding hotels to rival those in any major European capital."

This could help make it an attractive market for overseas property buyers to consider, as eastern Europe has become much more popular in recent years.

Holiday-Rentals recently revealed that while established markets such as Spain remain hotspots for British investors, countries in the east of the continent are attracting more and more interest.

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Budapest attracts foreign investors

Thu, 17 Jan 2008 00:00:00 GMT

The Hungarian capital Budapest is proving to be highly popular with overseas property investors, according to experts.

Foreign Property Buyer said the city offered attractions such as history and culture, as well as a thriving and growing tourist trade.

The online portal stated that this meant Budapest was an ideal market for property investors to consider, as there was an increasing level of demand for rental accommodation across the region.

Commenting on the country, Foreign Property Buyer said: "With recent accession to the EU and a high probability that the country will adopt the euro, Hungary is experiencing significant growth in many areas."

The website added that investors would get better returns if they entered the market sooner rather than later, as euro membership would be likely to push up property values.

Hungary was recently admitted into Europe's border-free zone as part of the expanded Schengen agreement, which means that people can cross the border without having their passport checked.

Property Select offers a comprehensive selection of overseas property in Hungary, news, members club and reviews of the latest property developments.

Eastern Europe joins border-free zone

Fri, 21 Dec 2007 00:00:00 GMT

Several eastern European countries have been admitted into the border-free zone, a move that signals greater integration with those in the west.

The Schengen agreement's inclusion of places such as the Czech Republic, Hungary and Estonia into the zone has been widely seen as a highly significant development.

As a result of their entry into the zone, people from these countries will be able to cross the borders of other members without their passport.

Although this will be likely to help attract more visitors to eastern Europe, the reverse is also true, as holidaymakers from the region may be inclined to go to other places with open borders.

Countries in the border-free zone include Spain, France, Italy and Portugal.

Last night, Slovakian prime minister Robert Fico told delegates at a special ceremony: "From midnight tonight you can travel 4,000 km from Tallinn in Estonia to Lisbon in Portugal without any border controls."

A total of 24 nations are now part of the border-free zone, including Austria, Belgium, Finland and Sweden.

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Invest in Hungarian cities, buyers are told

Wed, 12 Sep 2007 00:00:00 GMT

People thinking of investing in Hungary have been advised to consider buying property in urban areas.

Valeria White, managing director of Access Hungary, stated that whereas investment often focussed on holiday resorts, the infrastructure in many were lacking in comparison with cities and towns.

In addition, she said that wealthy Hungarians were more likely to live in major conurbations and that these people were the most likely future buyers.

Speaking to Mortgage Strategy, Ms White commented: "In Hungary's capital, Budapest, for example, it is growing indigenous wealth that drives the market and locals who will be most likely to buy from you in the future."

She said that every investor had to consider who they were likely to sell their property to further down the line, as they should not rely on it being another overseas buyer.

Earlier this month, a spokesperson for Foreign Currencies Direct told This is Money that eastern European countries were becoming increasingly popular among overseas investors.

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Hungarian property index 'rises'

Thu, 23 Aug 2007 00:00:00 GMT

Ecostat's Real Estate Barometer, a gauge of sentiment in the Hungarian property market, rose in the second quarter of this year, a report shows.

The property barometer increased by 4.6 percentage points to 47.1 percentage points between April and July of this year, after falling in the first quarter, figures from research group Ecostat revealed.

This is the highest point the index has reached since the fourth quarter of 2005, when it stood at 48 per cent, Ecostat director Pal Belyo is quoted by Forbes.com as saying.

The rise was down to increased home building figures, although it is still unclear whether this represents a trend, Ecostat reports. The barometer should soon reach 50 per cent, indicating a healthy balance between supply and demand in the market.

Hungary has recently become a target of foreign property speculators, with experts consistently identifying central Budapest as a good area to invest in.

Property Select offers a comprehensive selection of overseas property in Hungary, news, members club and reviews of the latest property developments.