trying to sell 116 sqm apt in district 7 in Budapest , cant find an estate agent

I have owned a 116 sqm appartment in district 7 of budapest since 2005.

Im now planning to sell it. Ive advertised it in the irish times and indo a few times but nothing came of it.

I asked my solicitor in Budapest does he know anyone and he gave me the absurd excuse that the only estate agent he knew left for germany and that i would have as much chance of knowing an estate agent in Budapest as he would, while I dont expect estate agents to be joined at the hip with solicitors like they are in ireland, did you ever hear such nonesense, then again the hungarians are a very odd people,

I also tried googling estate agents in budapest and all i get is Irish developers trying to flog me something in district 24.

Does anyone know any reputable estate agents in Budapest ?

btw , my appartment is renting for 800 a month is fully reburbished and decorated , i was hoping to get around 120 k , is that a realistic price , i realise things are on the floor over there now but 120 k is what i paid for it and have already spent another 30 k doing it up.

Re: trying to sell an apt in budapest , cant find an estate agent

Current rental provides you with a 6.4% gross return on your Euro 150k outlay.

Not great but assuming a small expense load this return is far from catastrophic.

Why are you selling?

Is this a bogus guaranteed rental scheme or has rental been achieved on the open market?

What's your net return? Have you suffered void rental periods?

Re: trying to sell an apt in budapest , cant find an estate agent

Mrs.B said:

Current rental provides you with a 6.4% gross return on your Euro 150k outlay.

Not great but assuming a small expense load this return is far from catastrophic.

Why are you selling?

Is this a bogus guaranteed rental scheme or has rental been achieved on the open market?

What's your net return? Have you suffered void rental periods?

Click to expand...

im selling because i could put the money to better use , the penny dropped for me about a year after i bought it that the hungarian property market was an artificial market , it derived purely from a spin off of the property boom in ireland and the uk , irish people who presumed thier own propertys would perpetually appreciate formed the opinion that the same would happen in budapest , when our bubble burts thier was nothing to maintain prices in budapest which were artificily high in the 1st place , the hungarian economy cannot support the kind of prices i need to make a profit on my investment , thier economy is on its This post will be deleted if not edited to remove bad language and thier is an over supply of residential accomodation in budapest , too add to that , hungarians are leaving thier home country so supply will continue to exceed demand , the only people who made money on eastern european property were those who got in at the begining of this decade , baschically people who got in before buying overseas property became part of the middle class lexicon in about 2003 , no one who bought since has made any real money , in fact the whole eastern european property thing is one huge con , pulled on a spoilt generation who had more money than sense and i was one of them and i deserve to be burned

ps, to reiterate my original question , does anyone know a decent estate agent in budapest

Re: trying to sell an apt in budapest , cant find an estate agent

irish_bob said:

im selling because i could put the money to better use , the penny dropped for me about a year after i bought it that the hungarian property market was an artificial market , it derived purely from a spin off of the property boom in ireland and the uk , irish people who presumed thier own propertys would perpetually appreciate formed the opinion that the same would happen in budapest , when our bubble burts thier was nothing to maintain prices in budapest which were artificily high in the 1st place , the hungarian economy cannot support the kind of prices i need to make a profit on my investment , thier economy is on its This post will be deleted if not edited to remove bad language and thier is an over supply of residential accomodation in budapest , too add to that , hungarians are leaving thier home country so supply will continue to exceed demand , the only people who made money on eastern european property were those who got in at the begining of this decade , baschically people who got in before buying overseas property became part of the middle class lexicon in about 2003 , no one who bought since has made any real money , in fact the whole eastern european property thing is one huge con , pulled on a spoilt generation who had more money than sense and i was one of them and i deserve to be burned

Click to expand...

surely Bob, you are one of these people you seem to despise?

what you've shown in your post is that doing good independent research is the key.

€1k sq.m is about right for District 7.

Re: trying to sell an apt in budapest , cant find an estate agent

paddyd said:

surely Bob, you are one of these people you seem to despise?

what you've shown in your post is that doing good independent research is the key.

€1k sq.m is about right for District 7.

Click to expand...

thanks for the psycological evaluation paddy , now do you know any good estate agents in budapest

Re: trying to sell an apt in budapest , cant find an estate agent

irish_bob said:

thanks for the psycological evaluation paddy , now do you know any good estate agents in budapest

Click to expand...

If your getting that yield for definite hassle free, you should be holding onto your investment because its producing a good yield.


A1 Real Estate Budapest Hungary
1061 Budapest, Andrassy ut 3.
Tel: +36 1 219 5505

American Appraisal Ingatlan Tanácsadó kft.
1034 Budapest, Bécsi út 120.
368-8803

At Home Budapest Network Kft.
Address:1123 Budapest, Kékgolyó utca 10.
Mobil: +36 20 3628-123, +36 20 2627-864
Tel/Fax: +36-1-2

Biggeorge's International Rt.
1012 Budapest, Logodi u. 44/c.
487-3300

Bradmore Consulting Kft.
1134 Budapest, Váci út 35.
451-1010

BudapEstate.com
1052 Budapest, Váci utca 24
Tel: 235-0844


BudapestRent
info@budapestrent.com
1051 Budapest, József Attila u. 18. I/7
Tel.: (+36 1) 486-3500


Capital Eyes International
1061 Budapest, Andrassy u. 2
Tel: +36 1 354 0980

Casafina kft.
1026 Budapest, Tövis u. 29.
200-6272

Casaro Hungary Real Estate Investment House Ltd.
info@casaro-hungary.com
1065 Budapest, Nagymezõ utca 42.
Tel: 486-3500

CB Richard Ellis
orsolya.simon@cbre.com
1055 Budapest, Honvéd u. 20/A
Tel: +36-1-3743040
Fax: +36-1-3743050


Central Home
V., Galamb utca 3.
galamb@centralhome.hu

Colliers International kft.
1024 Budapest, Margit krt. 87-89., Mammut II, 5th. floor
336-4200

Complex-Ma kft.
1074 Budapest, Dob u. 4-5.
267-4320

Contactual Kft.
1052 Budapest, Károly krt. 2.
266-5845

Crow Holdings Magyarország Kft.
1134 Budapest, Klapka u. 11.
451-4969

Doctorhouse Real Estate Agency
1051 Budapest, Dorottya u. 3.

Door Real Estate
Our passion is real estate!
Budapest, Jókai tér 4.
Contact: +3670-417-1363

DTZ Hungary Kft.
1054 Budapest, Bajcsy-Zsilinszky út 42-46.
269-6999

Duna House International Kft.
1061 Budapest, Jókai tér 3.
302-8389

EU Capital Group
Real Estate and Property Management
info@invest-in-hungary.com
Address: 1027 Budapest , Bem József tér 3.
Tel: 336 0781

Eurocenter Real Estate Agency
1022 Budapest, Törökvész u. 30.
Tel: 336-1010

Faktor 20 International Real Estate
1056 Budapest Molnár utca 28
Tel: 266-22-79

Flott Invest International Kft.
1056 Budapest, Belgrád rkp. 3-4.
268-0763

Gateway Properties
1051 Budapest, Arany Janos utca 16.
Tel: 374 0782

Gordon& Webster Rt.
1052 Budapest, Váci u. 19-21.
268-9100

Haeley & Baker kft.
1072 Budapest, Rákóczi út 42.
268-1288

HungarInsure Bt. Real Estate Agency
1054 Bp, József Attila u. 18. 4/1.
Tel: +36-1-373-0513, Fax: +36-1-373-0514

Ingatlan.com (Ingatlan=Real estate in Hungarian)
1135 Budapest, Csata u. 8.
Telefon: 237-2060
Hungary's largest and most visited real estate centre on the Internet.

Interestate Rt.
1062 Budapest, Bajza u. 48.
332-7341

Jones Lang LaSalle Kft.
1056 Budapest, Váci u. 81.
266-4981

Kala & Eppel Kft.
1015 Budapest, Csalogány u. 6-10.
212-4756

M.I.P.A. Magyarország kft.
1051 Budapest, Sas u. 10-12.
301-8722

Modern Investments
1051 Budapest, Sas utca 11
4-11-927

Petro-Cartell Kft.
1126 Budapest, Böszörményi út 2.
214-6660

Real Home Agency
1027 Budapest, Csalogány u. 23-33.
Tel: 214-0021

Real Management Kft.
1191 Budapest, Ady E. u. 28.
347-0738

Start Kft.
1025. Budapest, Csatárka u. 61.
316-9408

Swenako Kft.
1118 Budapest, Beregszász u. 39.
247-3316

Zemplén Ingatlan Iroda
1024 Budapest Löv?ház u. 1-5. 3/340 f
Tel: 315-0772, 336-0518

Re: trying to sell an apt in budapest , cant find an estate agent

Bob.

Based on your realistic assessment of the Budapest property market the best estate agent in the world is unlikely to find you a buyer unless you are prepared to take a big loss. If you are getting a 6% return (assuming you are not in a 'guaranteed' rental scheme) then surely it would be better to sit tight for a while until the situation improves.

Re: trying to sell an apt in budapest , cant find an estate agent

Ditto - you're onto a good thing if it's genuine rent. But then again, if it is, why would you be trying to scarper.

Re: trying to sell an apt in budapest , cant find an estate agent

GDE said:

........A1 Real Estate Budapest Hungary ....

........Ingatlan.com (Ingatlan=Real estate in Hungarian)............

Click to expand...

Thanks but..can you just post the link and delete the long listing?

Im assuming the listing is from Ingatlan.com (Ingatlan=Real estate in Hungarian).

The listing you have pasted is too long and poorly formatted.

Thanks,
aj (moderator)

Re: trying to sell an apt in budapest , cant find an estate agent

ajapale said:

Thanks but..can you just post the link and delete the long listing?

Im assuming the listing is from Ingatlan.com (Ingatlan=Real estate in Hungarian).

The listing you have pasted is too long and poorly formatted.

Thanks,
aj (moderator)

Click to expand...

I had it in a word file, not sure what site it came from AJ

Re: trying to sell an apt in budapest , cant find an estate agent

GDE said:

......
more »

more »

more »

Click to expand...

thanks GDE maybe you would tidy up the word doc and paste again.

Re: trying to sell an apt in budapest , cant find an estate agent

Simeon said:

Ditto - you're onto a good thing if it's genuine rent. But then again, if it is, why would you be trying to scarper.

Click to expand...

a combination of zero appreciation combined with the fact that the rent is not paying my mortgage and on top of that thier is no interest right off against overseas property investments , oh and i hate hungary

Re: trying to sell an apt in Budapest , cant find an estate agent

OK bob, your predicament is now clear. Incidentally I HATE HUNGARY is an anagram of A NAUGHTY HIRE

Re: trying to sell an apt in budapest , cant find an estate agent

GDE said:

.........
A1 Real Estate Budapest Hungary ........
......................................... etc.

Click to expand...

Thanks a lot , il give some of them a ring tomorrow , i emailed a crowd called duna house the other day , you know anything about them?

Re: trying to sell an apt in budapest , cant find an estate agent

I guess what I was getting at with my "psyc eval" as you called it is that its very clear you bought this place after doing no research whatsoever, and bought into this "middle class lexicon" you mention.
Now in all your bitterness ( I HATE HUNGARY?!), you want all us Budapest investors to recommend you to our own agents. Given your attitude, thats hard to do.

Apologies, btw, for another useless post on my part; must a slow day, but a little bit of respect for the rest of us (some in the same boat as yourself) would have gone a long way!

irish_bob said:

does anyone know any reputable estate agents in budapest

Click to expand...

For a property like your's, one of the international agencies would probably be best - Duna House, Otthon Centrum, A1 Ingatlan or maybe Central Home. They all have .hu website addresses. 120,000 euro would appear to be too high. This would put it in the luxury category and buyers of luxury properties in this part of outer District VII are few and far between.

irish_bob said:

the hungarian property market was an artificial market... it derived purely from a spin off of the property boom in ireland and the uk , no one who bought since has made any real money , in fact the whole eastern european property thing is one huge con.

Click to expand...

Most of this post seems to be your own opinion and not really propped up by fact. The apartment you bought was in very much a secondary location, which is not popular with locals, at a price, which locals would not have paid then or now. Had you researched the market first, you would probably not have lost money. Decent properties are still selling well, prices are some of the lowest in Europe, when compared with real income and many people have made money here, even since 2003. The rental market for high quality properties is strong, as you seem to be witnessing too.

Article in NYT about Hungary and FX loans.
http://www.nytimes.com/2008/10/19/world/europe/19hungary.html?pagewanted=1&_r=1&ref=worldbusiness

Andras Simor, head of the National Bank of Hungary, said in an interview in his office here that the bank had campaigned for some time to slow foreign-exchange borrowing. “If you borrow foreign exchange, you take a risk, but the public was not fully aware of the risk,” he said.

So if the public are forced to cut back on FX loans will they borrow in florints at 8.5% plus?
http://www.bloomberg.com/apps/news?pid=20601095&sid=aJnW1TQioc2Q&refer=east_europe

I've been PM'd for the following details about 20 times, so I might as well publish them on this thread. Agent I dealt with in Budapest who successfully sold my apartment is:

Dóra Tóth
Irodavezető
Franchise-iroda
Reif 2000 Kft.
1065 Budapest, Nagymező utca 36.
Tel.: +36-1-311-6167
Fax: +36-1-269-2366
Mobil: +36-30-458-1943
Skype: dtoth70
E-mail: toth.dora@dh.hu
Honlap: www.dh.hu

The fee is 4% if you are selling exclusively through the agent (i.e. you don't engage with a number of agents). I presume these details are still current - it's about 6 months since I last dealt with her.

As mentioned in other threads on the subject I was extremely impressed with the professionalism shown, and it was a stark contrast to previous agents I had dealt with. A

I hope this helps

Re: trying to sell an apt in budapest , cant find an estate agent

paddyd said:

I guess what I was getting at with my "psyc eval" as you called it is that its very clear you bought this place after doing no research whatsoever, and bought into this "middle class lexicon" you mention.
Now in all your bitterness ( I HATE HUNGARY?!), you want all us Budapest investors to recommend you to our own agents. Given your attitude, thats hard to do.

Apologies, btw, for another useless post on my part; must a slow day, but a little bit of respect for the rest of us (some in the same boat as yourself) would have gone a long way!

Click to expand...

i agree with you paddy , it is another useless post

amgd28 said:

I've been PM'd for the following details about 20 times, so I might as well publish them on this thread. Agent I dealt with in Budapest who successfully sold my apartment is:

Dóra Tóth
Irodavezető
Franchise-iroda
Reif 2000 Kft.
1065 Budapest, Nagymező utca 36.
Tel.: +36-1-311-6167
Fax: +36-1-269-2366
Mobil: +36-30-458-1943
Skype: dtoth70
E-mail: toth.dora@dh.hu
Honlap: www.dh.hu

The fee is 4% if you are selling exclusively through the agent (i.e. you don't engage with a number of agents). I presume these details are still current - it's about 6 months since I last dealt with her.

As mentioned in other threads on the subject I was extremely impressed with the professionalism shown, and it was a stark contrast to previous agents I had dealt with. A

I hope this helps

Click to expand...

thanks for the tip