Property prices

Old Jun 19th 2023, 6:11 pm
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Default Property prices

So talking to Viktor yesterday, I had to give him the big old handshake - he only went and bought the next telek to his, told me he kept on asking for a few years and finally the owner said OK.

He paid HUF 22M for 800 sq m plus a useful fahaz that could I guess be a granny annex or a great toolshed or a guest residence.

20 years ago that would have been 7 million.

Makes me feel a bit better about overpaying for our 3rd telek, it is slightly bigger and better than his one, ie bricks, concrete, swimming pool - but was well over-priced. The seller knew he had us over a barrel as it was an island telek surrounded by our other 2 teleks - plus of course he knew I was a dumb foreigner with too much money. 22 million I think, when the going rate would have been 16 million, 18 years ago. But I bought it and joined up 3 teleks, it has given me a lot of pleasure over the years. Now a very mature and beautiful big garden.

Good old Viktor - I told him he had to buy a 3rd telek like me but he said no chance any of them would ever be for sale, he's happy with 1800 sq m.

I'm happy with my 4500 sq m lol.

Try doing that in UK 45 mins drive outside the capital.
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Old Jun 20th 2023, 7:23 am
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I have no plans to buy any further properties. Our kitchen and bathroom needs updating, need an extra drive-over. Funny thing about the need for this is there isn't one for access to the garage! I've no plans to use the garage as it's only big enough for a Trabant! Instead use extra drive over for visitors and also park my car there when the sun is blazing down as it provides a shady area. (Not sure how my mini-bus owner neighbour will react because it will restrict him parking there. Often his mini-bus comes up to half the width of the planned crossover. He has plenty of space in front of his own property. I'll be adding a small bush to stop any encroachment. I just pray he doesn't think F... off and park in the middle of our property. We'll see what happens.).

I'm still a little peeved that when I enquired about buying out mother-in-law and sister-in-law share of property the latter had to suggest a share of any future profit without contributing anything. My ideas, (portable) cabin or Shepherds Hut, to relieve the stress of living in a very small house were "shot down" with some strange "ownershp" law. I studied business law back in the early 80's and passed. My English Law text book covered property law so although this is Hungary I don't think there is a huge difference internationally in this area. After I dropped the idea nearly a year later mother-in-law died and property was put on the market for double the then value. Two years later still unsold! Price recently dropped by 4 million at my wife's suggestion but other party not keen!!! Still unsold!!! House needs demolishing and rebuilt. Good luck to the architect and any builders. Atleast we don't have to walk halfway up the hill from the centre of the village. I note older people stop halfway to catch their breath back then continue up.

Had an opportunity to buy a weekend house near the lake but then I thought how often would I use it. We spent a fortune on a raised verandah with a nice view looking up to the hills. At the weekend house there's nothing to see but would be a great place to stagger home too after drinking too much pop. Atleast I got no need to worry about who to say No to to stay there!
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Old Jun 20th 2023, 8:05 am
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Default Re: Property prices

When I moved here to Hungary I had dreams of purchasing a Seasonal or Wine House type property up near the Austrian Border near to Gyor as a weekend get away. As I have grown older I came to my senses and realised I do not need another property and the headaches that go with a property in a remote area that would likely turn into a money pit and be a great target for thieves unless it was in an area with helpful nosey neighbours. I have noticed price rises on property in my area. I property was on the market for 16 million when I moved here in 2017 remained unsold for 4 years at that price. It is still unsold and the asking price is now 21 million and it remains unsold as of today. It is a nice home but it is next door to the Mayors office and across from the busiest intersection in the village. That is why it remains unsold. If they had lowered the price back in 2017 to 12-14 million range it would have sold. Owner greed and listening to estate agents who are also greedy is why many properties remain unsold for years here in Hungary..
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Old Jun 20th 2023, 8:34 am
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Default Re: Property prices

Originally Posted by Jack_Russells4ever
When I moved here to Hungary I had dreams of purchasing a Seasonal or Wine House type property up near the Austrian Border near to Gyor as a weekend get away. As I have grown older I came to my senses and realised I do not need another property and the headaches that go with a property in a remote area that would likely turn into a money pit and be a great target for thieves unless it was in an area with helpful nosey neighbours. I have noticed price rises on property in my area. I property was on the market for 16 million when I moved here in 2017 remained unsold for 4 years at that price. It is still unsold and the asking price is now 21 million and it remains unsold as of today. It is a nice home but it is next door to the Mayors office and across from the busiest intersection in the village. That is why it remains unsold. If they had lowered the price back in 2017 to 12-14 million range it would have sold. Owner greed and listening to estate agents who are also greedy is why many properties remain unsold for years here in Hungary..
Busiest intersection in the village - past six months builders have been building a new house on the main through road. It's coming along nicely but I just cannot imagine what it will be like living there.

Further up the hill near sister-in-law house I spotted two nice plots but .... ouch ..... it got snapped up by a "dog breeding kennels ". It's a strange two plots wrapped around a property which has been there ten years. On one plot there's like a huge portable cabin which I suspect is living quarters. Not once heard any dogs barking around there. Past few months on the other plot a huge property is being built. No idea if it is a house but it makes the garden look really small. Maybe it's a house and office for the breeding kennels but doubt it. Still we're probably in a much better location as it has more of a community feel.

As for mother-in-law property the doubling of the price was recommended by a family member. Neither of us were involved. As previously mentioned house needs demolishing! I find it sad that no one asked me but that is probably because others didn't know I'd been visiting Hungarian property websites for years so I were up to date with local property values. This is my third property. Other two bought and sold in UK. Anyway, I cannot wait for that property to be sold. Two huge walnut trees need some branches trimmed back as they are hanging over a neighbours property. I had mentioned this several times but no one taking me seriously.
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Old Jun 20th 2023, 9:02 am
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Default Re: Property prices

Don't do the trimming work - waste of your time.

Obvs you'd like the wood, one of the very best for burning/ fireplaces.

Half the time the neighbours couldn't care less, maybe they enjoy getting a few free walnuts?

My neighbour on the north side does pipe up now and then about me trimming back the magyoro and lilacs, which I do every 4 years or so - I like my privacy. He wants a bit more sun I guess.

My neighbour on the south side? I just cut back his magyaro/ hazels myself every winter without his permission, to give my stuff a chance in the sun - he doesn't complain. But most of his stuff overlapping my fence I kinda like, so just leave it. You're supposed to give them back the wood, I just assumed he doesn't want the hassle, being 90, so I burn it instead.
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Old Jun 20th 2023, 9:06 am
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I paid 2 million HUF for my house which needed renovation on a 2671 sq metre plot of land some 17 years ago. A friend of mine recently bought a house in a similar condition but on a much smaller plot than mine for 8 million HUF.
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Old Jun 20th 2023, 9:11 am
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Plus once you've got a load of magyaro/ hazels - you'll never need to buy bamboo canes or pea-sticks again.

Thanks, Kalman - plus I have quite a few myself.

All the garden stakes you could ever want, for free.
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Old Jun 20th 2023, 9:13 am
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Default Re: Property prices

Originally Posted by Bill Sykes
Don't do the trimming work - waste of your time.

Obvs you'd like the wood, one of the very best for burning/ fireplaces.

Half the time the neighbours couldn't care less, maybe they enjoy getting a few free walnuts?

My neighbour on the north side does pipe up now and then about me trimming back the magyoro and lilacs, which I do every 4 years or so - I like my privacy. He wants a bit more sun I guess.

My neighbour on the south side? I just cut back his magyaro/ hazels myself every winter without his permission, to give my stuff a chance in the sun - he doesn't complain. But most of his stuff overlapping my fence I kinda like, so just leave it. You're supposed to give them back the wood, I just assumed he doesn't want the hassle, being 90, so I burn it instead.
The walnut tree branches are very thick and extend above their outdoor kitchen. I won't be surprised if one branch collapses under the weight.
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Old Jun 20th 2023, 9:19 am
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Default Re: Property prices

Originally Posted by Sachina
I paid 2 million HUF for my house which needed renovation on a 2671 sq metre plot of land some 17 years ago. A friend of mine recently bought a house in a similar condition but on a much smaller plot than mine for 8 million HUF.
Good price. You could get a less desirable (location) plot with a primitive house on it, round here for 3.5 M about 20 years ago. Pilis, 45 mins from Bp.

Not now, with Bp prices being what they are.

People are either taking the profit from their Bp property, ie selling, and downsizing/ relocating to the villages - or if younger just realize that 45 mins commute into town & job ain't so bad if you can buy 1000 sq m garden and family house in the villages for less than half the price of a small Bp flat.
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Old Jun 20th 2023, 9:24 am
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Default Re: Property prices

Originally Posted by FenTiger
The walnut tree branches are very thick and extend above their outdoor kitchen. I won't be surprised if one branch collapses under the weight.
Most Hungarians love the shade in summer.

A walnut tree lives for, like, 100-200 years so won't just start dropping branches. We've got 2 ancient ones and they drop a few dead rotten branches but only small stuff. At least 60 years old and still going strong.

Life's too short.

Or you could just ask the neighbour what they prefer - I wouldn't bother, myself, they'll soon tell you if it's starting to annoy them.
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Old Jun 20th 2023, 9:35 am
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Default Re: Property prices

Originally Posted by FenTiger
The walnut tree branches are very thick and extend above their outdoor kitchen. I won't be surprised if one branch collapses under the weight.
I've got 5 walnut trees on my land. the largest one is in the bottom part of my land and it's my favourite spot to sit when the weather is super hot. In all the years I've lived here I never known a branch break off any of my walnut trees or the ones in the churchyard opposite my house.
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Old Jun 20th 2023, 9:57 am
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Default Re: Property prices

Originally Posted by Sachina
I've got 5 walnut trees on my land. the largest one is in the bottom part of my land and it's my favourite spot to sit when the weather is super hot. In all the years I've lived here I never known a branch break off any of my walnut trees or the ones in the churchyard opposite my house.
My neighbour across the street has an old walnut tree that is probably 20 metres tall and close to that wide. It does not seem to loose limbs but the walnuts are no good due to insects. It has a lot of nice shade underneath it. I wish that tree were in my back garden.
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Old Jun 20th 2023, 4:54 pm
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The very best walnut tree in Pest County is across the road from me - neighbouring plot but in the road so public.

Huge walnuts that the kids like to rob - good luck to them.

Not a biologist - but I understand you are in the lap of the gods. Could be similar offspring. Or not.

I planted 50 of them last year and will plant another 50 this year.
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Old Jun 20th 2023, 5:48 pm
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We bought 3 (small) vineyards for our 3 kids in Pazmand, if you know it - not too far from Velence To. Pleasant village.

Only chickenfeed at the time. Half a million?

But over the years - big PITA..

You get fined big money for some noxious weed, so we have to stop that.

We got a local farmer to rip out all the vines a few years ago, now he grows some crop for free on our land, good luck to him. Alfalfa I think.

One of my mates has an adjoining telek so I pay him 4 cases of beers to make sure the weeds stay low.
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Old Jun 21st 2023, 3:55 pm
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Default Re: Property prices

I was told that houses take 10+ years to sell in Hungary, clearly not true.

I save many properties in Ingatlan to review on my next trip. Almost all of them sell before I get to view.

There is clearly more people buying property in Hungary now than people realise.

Obviously there are the crazy priced properties that will never sell, due to the owners living in fantasy land, or the properties where the owner puts the price up as soon as you show interest, but other than that, they are selling like hot cakes
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