Budapest District V

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mocky-Dower

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Hello,

We have an apt in Vadas28 District V and I saw on some previous posts that the Gov ministries are moving from this district to district VI, I know that there are a lot of Embassy's in V and the university is close by, but my question is, will this move effect the price of apt's in District V ?

Also does anyone have a current valuation of apts in district V, we are there over 2 years now, we have a 1 bed apt with underground carpark space ?

Thanks.
 
When these apartments at Vadász 28 came on sale a few years back, they were sold to mostly Irish investors around the 1M HUF/sqm mark as a rarity project - the only new build residential project in District V. To justify their price even further, they were also very easy purchases, in that they were sold furnished, with parking included and with tenants lined up to move in. However, a few apartments are still on the market four years later and are being advertised at more or less the same prices as back then. Some resales have also occurred around the 850,000 HUF/sqm mark.

Some of these stunning classic buildings of the current government district will more than likely be converted to luxury residential blocks when it moves to VI, which will probably enhance the area.

I have statistics for average prices in each section of District V, but none of these will be useful to you as what you purchased is effectively a stand-alone project. As a rough guide, it's worth around the same or slightly less than what you paid for it a few years back.

How has your rental return been since completion? Rentability shouldn't be too much of a problem for properties like this, but at the time, I was a little concerned at the developer's guarantee of 5%, which is too low. The furnishing is also quite uninspiring and already looks outdated.
 
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