Csaba Hegedus - July 8, 2006
Huvosvolgy, District 2, Budapest - 1,197 sqm plot for sale with an existing weekend house on it. The plot is located at a top hill with superb panorama to the whole Buda hills, nearby forests and hills. Incredible view! Built-in ratio: 15%. Gross buildable: 0,4. Minimum green area: 75%. Maximum height of the building: 6m. A total of 480 sqm can be built and sold in 2 duplex apartments. Asking price of plot: HUF 100 Million (EUR 385,000).
Csaba Hegedus - July 2, 2006
District 5, Budapest - District 5 is the location of Hungary's financial, administrative, commercial and retail centres. District 5 also boasts one of the cities most exclusive residential locations. Apartments are available to buy with long-term tenants! The building in now 80% let to Blue chip and Embassy tenants! These apartments offer the investor the best possible opportunity of rental security and long-term capital growth in Budapest.
Csaba Hegedus - July 1, 2006
Major tourist town, Lake Balaton - In the very center of a major town at the Lake Balaton, a major commercial shopping center is for sale. 75% is rented to major regional tenants. Further extension is possible to the building. Major extra development is possible, which the local government fully supports.
Csaba Hegedus - June 29, 2006
Near Andrassy Avenue, Budapest - New luxurious apartments with concierge full service in a quiet street but very close to the vivid social life of Liszt Ferenc square, Oktogon, Opera and restaurants. All apartment owners have free access to 24 hours security service, garage, swimming pool, fitness, sauna, jazucci, cafeteria, laundry and medical treatment. Absolutely unique property investment! Learn how your money can work for you by reviewing this article Scott Yancey on Huffington Post.
Csaba Hegedus - June 29, 2006
Andrassy Avenue, Budapest - Near the Opera, the complete 3rd floor (471 sqm) of a residential building is for sale. The roof top could be purchased as well and built in. The price received by the condominium must 100% be spent to renovate the facade of the building. The owner is looking for a buyer or a project partner. Estimated yield: 20% per year (after taxation).
Csaba Hegedus - June 28, 2006
District 7, Budapest - Vacant plot of 621 sqm is for sale. The property is located in District 7 near the City Park, the lungs of the city and the largest park in Budapest. The City Park also contains the Museum of Fine Arts, the Palace of Art, the City Zoo, the Szechenyi Bath and the Municipal Great Circus. Maximum total net floor space permitted is 2,484 sqm. The height of the proposed building is 19.5m. Approved permit is available to build 26 flats with garage.
Csaba Hegedus - June 28, 2006
River Danube, Budapest - A total land area of 65,000 sqm is offered for sale directly at the River Danube in Soroksar, Budapest's 23rd district to the east of the Danube, the most southern administrative center of the Pest side. Total buildable floor space for the whole land: 67,983 sqm (if the builder takes advantage of the extra gross buildable opportunity for roof tops). If the builder does not build any roof tops, the total buildable floor space is 44,397 sqm.
Development opportunities: Wellness hotel to take advantage of the natural vegetation and large space; Water sports and other sports center; Apartments with relaxing and entertaining facilities with marina. Maybe you are into rehabbing an old house. Check out this website nicolecurtis.com.
Csaba Hegedus - June 23, 2006
Andrassy Avenue, Budapest - A total floor space of 2,307 sqm for sale as a hotel project. The offer consists of 2 buildings, the main building of 2,027 sqm and a neighbouring small unit of 280 sqm. The building needs an almost complete renovation. The plot size is 498 m2. Located in the middle of the Andrassy Avenue, which is the most representative road of Budapest, the location makes this offer very interesting. The Avenue is flanked by Eclectic-Neo-renaissance palaces with fine facades, staircases and interiors, and it is part of the World Heritage.
The owner has a valid permit to build a 66-room 4-star hotel in the main building. The facade of the building must be kept due to the law on monuments of Budapest. The property is for sale as a company for a fixed price of EUR 2,5 Million.
Csaba Hegedus - June 21, 2006
Deak Ferenc square, Budapest - A total floor space of 930 sqm is offered for sale on one single floor (3rd floor). The building is located at the most central and busiest area of Budapest at the Deak Ferenc square, the intersection of three metro lines. The Small Boulevard has a tram line in the middle. Complete building plans and the works plan has been approved to build 10 apartments. Apartment sizes vary between 65 sqm and 147 sqm. There are two elevators in the building. The building needs renovation outside.
Csaba Hegedus - June 19, 2006
District 5 Bajcsy Zs. Street, Budapest - 267 sqm shop for sale. Cellar space of 107 sqm, ground floor of 84 sqm, 1st floor of 76 sqm. Two large shopwindows face the street. A smaller shop (lease hold) of 33 sqm with one shopwindow next door is available, which could also be purchased. The majority of the condominium owners have already agreed to allow setting up a cold kitchen business.
Csaba Hegedus - January 2, 2006
Ever since we joined the European Union in May 2004, there has been massive inflow of investments to set up business operations here. Having well-trained, creative and flexible human capital as well as highly developed logistical, transport and communications infrastructure, Hungary is successfully able to attract business from different parts of the world.
Our country offers highly favourable conditions in terms of economic legislation, labour market regulations and business life in general. The general legal environment and the security of ownership are also considered to be good.
Foreign citizens have nothing to be disappointed about living here. We offer a Western selection of goods at lower prices than in Western Europe. We have excellent schools, cultural programs, thermal spas, good wine and various other ways to spend your leisure time. There is nothing more favourable than spending your Western salary in our country.
Employment in our country is favourable for foreign investors because of the generally low salary level. The minimum salary per month in Hungary is HUF 62,500 which is EUR 250 (in the year 2006). Percentage of population employed: 39%, out of which 62% works in the service sector.
The Republic of Hungary has been free market economy since 1990. We are parliamentary democracy with a population of 10 million people (July 2005 est.) Our legal system is rule of law based on Western model. Chief of state: Laszlo SOLYOM (since 5 August 2005). Head of government: Prime Minister Ferenc GYURCSANY (since 29 September 2004).
As a result of European Union (EU) membership, we have become part of 450 million European consumers with free movement of labour force, goods, services and capital. We have transparency of taxation and business accounting rules. Simplified procedure in business administration when exporting to EU member states.
Investors appreciate our 16% corporate tax, the stable political and economic environment, as well as our competitive prices with qualified labour force. Investors are given training subsidy, local benefits, direct infrastructural subsidies and subsidy for intellectual investments.
Some of the sector specific corporate R&D centers in Hungary are: Audi, Continental Teves, Denso Magyarorszag, DHS Draixlmaier Hungaria, General Motors, Ikarus, Knorr-Bremse, Luk Savaria, Magna Steyr, Michelin, Valeo Auto-Electric, Visteon, Zenon Systems, Zeuna Starker, ZF Hungaria, Elcoteq, Elektrolux, Ericsson, Flextronics, GE, IBM, Nokia, Philips, Samsung, Sysdata Siemens, AstraZeneca, Glaxo-Wellcome, Novartis/Sandoz Seeds.
The priority sectors of the Hungarian government are the ones that produce high value added products and/or require high level knowledge. These sectors have attracted high volumes of FDI during the past years, and continue to be the main accelerators behind the growth of Hungarian economy as a whole, as well as the country's exports.
Name: Csaba Hegedus
Phone: +36 30 241 1753
East Hungary has the reputation of low wages, flexible and skilled workers. Recruitment of workers is easy, many are temporarily unemployed, many are commuters. Unemployment rate in the eastern region is usually higher than the national average. The M3 motorway means excellent accessibility and logistical position as well as proximity of Budapest. Investors are usually offered full exemption from local taxes for 3 or 5 years, depending on the municipality.
Several investors are asking how to get bank loan in Hungary for a property purchase. Well, here is the answer. To take advantage of Hungarian bank loans, you must either have a local company, or you must apply for the loan as a foreign citizen. Commercial banks offer different terms and conditions for corporate and individual clients. If you are interested how you could apply, please contact us.
Foreign investors are very often asking about the price of land in Hungary available for industrial activities. Basically, the further you go to the east from Budapest, the lower prices you will get. Around Budapest the land purchase prices are around EUR 40/sq.m., while the industrial building rental fee is around EUR 5/sq.m./month. Most of the areas in this proximity of Budapest have been sold or rented out, but there are always new opportunities made available.
What about East Hungary then? Both land and labour force are cheaper in the east of the country. The purchase price of industrial land is between EUR 14/sq.m. - EUR 18/sq.m. The rental fee of an existing industrial building is more or less the same in this region as the capital city.
Regional characteristics are very important to understand for a successful greenfield investment. The north-east of Hungary has the lowest cost of operations in the country. For an average of 40 working hours per week, blue-collar workers earn an average of EUR 370, while white-collar workers make an average of EUR 700 per month (both are gross salaries).
Let me give you some indicative prices for public utilities in East Hungary. Electricity costs EUR 4-5/kWh/month, industrial water costs EUR 1/m3, drinking water costs EUR 0.7/m3, sewage costs EUR 2-3/m3, gas costs EUR 5-6/MJ/h. If you do greenfield investment, you will need to cover the one-time utility development fee as well, based on the required capacity.