budapest district 7

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seánieboy

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hello
im buying an appartment in Budapest this year from hexacon homes to be exact its the new apartment block not yet cleared akacfa utca 26 is the place that its in it seems central enough and near main boulevards and in the old jewish neighbourhood the area could do with a good facelift right now as the buildings surrounding the area are pretty rundown i have been informed that the area is next in line for a kind of urban renewal from the government and that the area is pretty good the transport links around the area seem real good also. Having said that as i was looking around budapest everyone seems to have a car and have a lot of problems parking so i took the opinion that buying a car parking space might be a good option with the appartment. Could i get some opinions on what people might think of this development in akacfa utca in the sense of it being a good or bad area to purchase in and whether its a good idea to buy a car parking space with it or not? also what is the rental market like in this district, the appartment im buying is a 2 bedroom 72 sqm with 2 balconies front and back . The front looking into a courtyard and front facing out onto the street. would anyone have any advice on rental companies as i have been told numerous times that casaro are very expensive and not very effective . advice would be appreciated thank you
 
seanieboy,

I've heard bad reports about the agent you mention. I'd steer well clear of them.
 
I'm talking with Home Management . They are associated with Duna House www.dh.hu . Their rates are 10% + VAT. Their approach is to offer furnished accomodation to foreign students and expats. The furnishing package is about €6k incl supervision fee and vat. These are the agents used by OPI in Maynooth. My experience so far has been efficient, I have worked with their associated lawyer and accountant, and met the management company. It's a bit early to give any recommendation on the management side though as the apartment are not ready to rent yet. If anyone else has dealt with these please share your experience.
 
hello
I take it that casaro is an absolute no no and not hexacon homes ive heard some really bad stories about casaro in the sense that people have to take them to court so thanks for youre advice on that. does anyone know anything about the area im buying in though in akacfa utca its very central and i believe the area is due a face lift soon by the government like an urban renewal scheme here in ireland
 
Seanieboy, I've been living in Pest for a few years and pass Akacfa utca all the time. It's a grand area and close to the centre. The rental market is not great at the minute and if you bought here, you would more than likely be renting to expat students or professionals, who won't tend to have cars. I really think though that there are too many new builds in the city for the number of potential tenants available, so competition will be tough in the next few years.

Hungarians tend to live in the suburbs and drive to the city. Have you also looked at second hand apartments? In my experience, they can be easier to rent out as they are much more desirable to live in. Anyone I know would choose to live in a good second hand apt over a new build anyday.
 
thanks budapest,
Ive bought on the akacfa utca alright it isnt built yet not finished til 2007 im buying off mason homes here in ireland for hexacon homes in budapest and no i havent looked at second hand property i seen the area this new build was in and i was very impressed how close it was to differant amenities around the city about the car parking i believe theres a terrible parking problem in the city of budapest and when i went there i was sceptic as to would i need a car parking space and i came to the conclusion that yes there was an adequete transport system in the city but every body seemed to be zooming around in a car and looking for parking i even saw loads of people parking on traffic islands so i changed my mind and seen that maybe there was a market for a parking space after all i have been told that i can let the car parking separate from the appartment and maybe in a few years time the appreciation on a car parking space within the city centre mightnt be a bad thing to have after all also has anyone any advice as to which management company a person could get to look after youre property as i said earlier ive heard some really bad reports on differant companies and looking for someone reliable as they said in januarys property magazine that theres one price for the locals and another for tourists and another for the Irish so one has to be careful
 
Seanieboy,

DO not use the management company beginning with C, they are cro_ks.

iris
 
Hi Iris - Our readers may be a bit cynical about accepting recommendations (positive or negative) from a first-time poster.
 
hi
Has anyone ever heard of hexacon homes there a company formed in Hungary by 2 irish people and one Hungarian i know that this is there first venture as a company with akacfa utca in district 7 and mill house in district 9 ive heard good reports about them when they were in the renovation business in Budapest
 
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