Zala Springs - Hungary

[Kevin]

Has anyone considered investing in the 'Zala Springs' development in Hungary? Would be interested in hearing from anyone.

 

[SecurityDoor]

Where is this development, i.e. where in Hungary?

 

[jellyshots]

Zala is in the heart of the ancient wine-making region of Balaton.......according to the blurb assuming this is the website

http://www.zalasprings.com/

Looks nice but as an investment I wonder if you wanted to sell it in 5-10 ten years how much interest there would be in a golf resort property.

Looking at the map it appears to be in the middle of nowhere......but.... Ryanair appear to have started flying into Balaton airport from London so no doubt more routes will be added.

Would you be limited in who you could sell it to when you decide to offload it i.e. would only golfers be interested in buying it because it's on a golf course.

 

[davidhoward]

Within 4 mls of Zala Springs there are properties for sale from as little as 12,000 GBP with all infrastructures, paved road and about a min of 1 acre of land. Ideal for a holiday/retirement home. Cost of living is 500 GBP/month/couple. Lake Balaton, Europe's biggest lake is 14 mls. Ryanair is 13 mls with regular flights to London. Sporting facilities: riding, fishing, sailing, golf... in a beautiful environment.
I've lived here for 4 years and many British relocated here even from Spain. 1 glass of wine costs as little as 10p, pint of beer is 50p. I have a construction company to do any building work if you require it. I can also help you with friendly advice in legal matters. As investment in land and property you can hardly find better ones, considering the prices in the EU. email: davidhoward@hungary.org for photos

 

[zsizsik]

I recently looked into another balaton development, near Balatonlelle, called BL Yacht Club. Similar marketing style to Zala Springs - but the "quality" factor they were pushing was a marina rather than a golf course. All the local Hungarians I have spoken to about Balaton say, without exception, that it is great for a few months in the Summer for a holiday (or just a long weekend out of Budapest) but absolutely dead for the rest of the year. I was not convinced that an investment in any of the units on offer at BL Yacht Club would stack up on the basis of Summer rentals alone. Obviously, if you plan to live in the Balaton area all year round and want the property as a second-home for personal use just to get away from it all, then that might be different.

 

[auto320]

Agree with previous poster, Balaton isn't the best as investment, it's ok if you want a holiday home for your own summer use only. The place is dead in winter, as some posters said its just a summer season thing. The summer does extend a bit with weekend traffic, but the place is overrated quite honestly.

During the big rush by foreigners to Budapest a few years ago, when people bought the bad along with the good, a few agents tried to revive the Balaton market for sale to foreigners, but were generally unsuccessful. If it couldn't be sold then, when selectivity was not an issue, it looks like a bad bet now that the amrket has stabilised -- no chance of getting customers if you want to exit.

As for Ryaniair flying into the old military airport in Balaton, this will have no impact on the local property market; 99% of passengers will jump on the bus for Budapest. Just as in Charleroi, where eveyone goes straight to Brussels, the local market impact will be minimal.