A couple of points...
The poster who is worried about civil unrest in Budapest needs to take a trip there and see for himself. The protesters outside the parliament building have faded away now that they have realised that the only way to change the government is by voting them out. I spoke today to a friend who is a well known player in that market, and he was in Budapest all week. He told me that all that is to be seen outside the parliament at this point is a small force (12) of policemen, trying to keep warm.
In addition, a growing number of commentators are taking the view that not only has the government emerged stronger from the recent unrest, but that the September riots have actually improved the investor situation in Hungary by highlighting the fact that the government is now taking real action to deal with the budget defecit. Nobody in political life in Hungary wanted to risk losing popularity by biting the bullet on costs, and the opposition tried to capitalise on the fiscal rectitude programme of the administration in the hope that it might provide a short cut to power for them. They were not only wrong, but their strategy has backfired on them and the government is now even stronger than before. The comparisons with the "love ulster" parade in Ireland are valid, the whole issue (as I predicted in previous posts) was very much a storm in a teacup.
Regarding the Vorosmarty project, it seems a little expensive, but not wildly so. Someone else mentioned Godsu Udvar, which was priced at much the same level but which is a much higher rated project that will almost certainly do very well for anyone who got a piece of it. Some stuff left in Godsu if you trawl around, but mostly the attic ones which are not great. I know that a few people grabbed some very nice ones in Godsu in the last few weeks from panic sellers, at launch prices. The parking alone in Godsu has upped by more than 100% since it was bought following the launch. My contact who was there last week advises me that Godsu is running about two months late by his estimate, but that it is going full steam ahead.
For rental value you are much better in the 13th at this point in time, in the streets to the west of the city park. Lots of small developers there, on infill sites with small blocks of apartments that are renting as soon as they are built at about 6 to 7% (minus management fees). Most of the developers in this area are reliable, with maybe one exception, so look around before you buy. This location is very popular with Hungarian renters, and I spoke recently to one local agentwho put up a "for rent" board on an apartment there and was inundated with responses.
One thing is sure, the unrest in September has frightened away quite a few amateur investors, the kind who buy one-off apartments at full price. This has left several developers carrying stuff that they thought they had sold, and they are much easier to talk to now. On the other hand, the big boys are sensing a little extra margin right now in Budapest and are buying quite strongly, so get in fairly quickly if you want to get a bit of an edge.