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Purchasing Property as investment in Budapest

Purchasing Property as investment in Budapest

Old Jul 19th 2014, 1:25 pm
  #1  
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Default Purchasing Property as investment in Budapest

Hello All

After doing some research on prices, and being married to a Hungarian lady, we have decided it may well be a good time these days to buy property in Hungary, in Budapest, with the idea of renting it until we go back there, if ever.

Some questions to this forum:

Financing: Any advise about motgages? We would be interested in a fixed rate mortgage as oppossed to a var one. We were even thinking of getting the mortgage in an Austrian bank or similar, because of the crazyness going on with the HUF...

Areas to buy property: We would like to target business people, expats. Not weekend tourist, we saw that market is saturated and soon to be regulated. Any tips?

Pricing:What would you say is the average price drop I should expect vs asking price? 10% 20%? I just bought a property in Spain and we got 35% price off asking price. Don'tknow how inflated prices are in Hungary
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Old Jul 20th 2014, 8:36 am
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Default Re: Purchasing Property as investment in Budapest

Hi Looptruy and welcome to the BE forums. Hopefully one of our Budapest members will be along shortly to point you in the right direction.

Regards finance, I would suggest discussing your requirements with a mortgage advisor in Budapest and your home country, you can then make an informed choice.

Not dealing in the Budapest market, I can only give my opinion on property prices and I don't believe they are overly inflated though it is a buyers market. Outside of Budapest, a 10% reduction is very common, occasionally 20% but any more than this is unusual and only accepted if the seller is desperate.

Hope this helps.
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