Investing in Budapest District XIII

[StevenBP]

You are correct in your calculations. However, I believe that there will always be 80 people who can afford to berth their yachts at a monthly price of about 0.1% of the value of the yacht.

 

[hmmm]

In Budapest, there is not one yacht harbor (!!!) today that is up to modern standards, while there are about 4-5000 yachts owned by private persons, that are kept in crappy marinas all around the river. You can imagine what the first modern marina shall generate in these circles...

So you've bought an investment property in Budapest where as part of the development there would be a marina built (and which was presumably built in to the price)? And now they've built the marina. So, what's the excitement about?

If you said however that there was speculation that a marina may be built at location xyz which would benefit existing property prices, that would be of real interest.

 

[StevenBP]

Hmmm thank you for explaining exactly what I meant. And I dont really care if they built in the marina into the price as long as there is no marina in the capital of Hungary and the price is no higher than as of any other comparable investment (without marina or comparable surroundings). ((really.))

 

[budapest]

Glad that your investment is working out so far, g4set. What price per square metre did you pay? Also, did you have any major snags to take care of?

 

[paddyd]

according to property.hu the under development Phase 3 costs about €1,730 sq.m

• Location: District 13, nearby office headquarters and shopping malls
• 50 apartments
• Prices from 57,000 EUR
• Apartment sizes ranging from 33 to 93 sqm
• Payment terms: 20-80%
• Expected handover: Q2 2009

 

[jrar]

Re: Article in The Budapest Times: Irish and UK investors giving up on Budapest

Ive recently come back from BP after looking at the apartment I bought in Beke liget dist 13. It was supposed to complete in April 07 but wont be ready till April 08 - The quality looks good and the design is modern with lots of natural light, Im hoping to let out for around 450 - 500 euros a month One worring thing is that I have had a demand to pay the stamp duty already even though not finished till next April. Aparently government are tightening up on tax collection they are employing a firm called SIGMA credit. Anyone else had this experience?
G4set

G4set, I'm confused ! You mentioned in early Nov. that you'd let your apt. for 500 Euro per month but now you say it won't be finished until April '08 ?!? How did you manage to let an unfinished apt. ?