Clubman, that particular part of district VIII is not popular with locals over here and I'd imagine that it would be more difficult to rent out apartments here than in the other districts of central Pest. Despite being quite close to the centre, it is not a desirable area, unlike V or VI for example. The reason that people don't seem to like it is that they believe crime is higher here and it was traditionally the centre of prostitution in the city. There are patches of it, which I'm sure are fine and I can't say that I've seen any trouble myself but if you were to ask any Hungarian where the worst part of the centre was, I'd say that 90% of them would agree with me. Many of the new buildings in this area also seem to be aimed at foreigners, who may not be aware of local opinions. The part of VIII near Kalvin Ter is much better.
Perplexed, estate agents seem to be telling investors that it's easier to rent out new apartments than older ones. I agree with this in part in that you're right in saying that a parking space can be important and most of the older buildings in the city won't have parking. However, most people who live in the city centre don't have cars as the public transport system is great. New builds are also a lot more expensive and in my opinion not worth the extra money. Any I've seen are poorly built and not particularly pleasing to the eye. They remind me of the type of apartments that were built around 1992 in Dublin city centre.
If it were me, I would buy a second hand property on the best street that I could afford. If you take your time and look around, you can find good investments that won't even cost any more than a newly built, unattractive and poorly located apartment.
Let me know of any other queries you might have.
Budapest
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