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Real Estate Development near Budapest. Please advise.

Real Estate Development near Budapest. Please advise.

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Old Dec 30th 2017, 3:09 pm
  #16  
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Default Re: Real Estate Development near Budapest. Please advise.

I agree with that "caveat emptor" - we've visited our young ones in Bp and the stories they tell re housing ...
Second rate addresses are even worse.
And even here around rich Hévíz there are many flats (newly built, renovated and old ...) and houses standing empty.

My favourite joke:
Mr Eladó must be the richest man in Hungary - you see his name on so many objects ...
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Old Dec 30th 2017, 4:05 pm
  #17  
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Default Re: Real Estate Development near Budapest. Please advise.

Not forgetting his junior cousin, Mr Kiado!
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Old Dec 30th 2017, 6:36 pm
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Default Re: Real Estate Development near Budapest. Please advise.

Holy smoke! How could I forget him!
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Old Dec 30th 2017, 7:04 pm
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Default Re: Real Estate Development near Budapest. Please advise.

I am thinking of going to the Casino in Budapest and investing all of my money on a game of roulette. What insights can long-term residents give me ?


That makes about as much sense as the OP's inquiry/
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Old Dec 31st 2017, 2:47 am
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Default Re: Real Estate Development near Budapest. Please advise.

From the OPs posts it appears that he is looking for information on hungarian real estate etc as a means to extend his business of real estate development and investment somewhere close to his country of origin, but with no apparent interest in actually living here. I do not think that this was the true purpose or intent of this forum and I would feel uneasy at someone using it as a means to solely further their foreign investment business. and feel that this is not an appropriate place to do so.
If this is not the case I apologise totally to the OP but they have not stated any intentiom or interest in ether moving to or living in Hungary as have the rest of the people regularly using this forum. Perhaps they could be clearer on this in their next post.
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Old Dec 31st 2017, 8:23 am
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Default Re: Real Estate Development near Budapest. Please advise.

Originally Posted by scot47 View Post
I am thinking of going to the Casino in Budapest and investing all of my money on a game of roulette. What insights can long-term residents give me ?


That makes about as much sense as the OP's inquiry/
Now you're just being silly! Everybody knows you should be buying scratch cards and just think, you could really annoy Duztee by buying them all at the Post Office!
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Old Dec 31st 2017, 9:27 am
  #22  
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Default Re: Real Estate Development near Budapest. Please advise.

Originally Posted by Expatrick View Post
Now you're just being silly! Everybody knows you should be buying scratch cards and just think, you could really annoy Duztee by buying them all at the Post Office!
As soon as I read the first sentence I was already formulating a reply, but I see you already did it for me! :-)

Most of us seem to be offering an opinion to the OP, with little response I'm thinking perhaps he (she) has kind of gone off Hungary as an investment opportunity.
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Old Dec 31st 2017, 9:36 am
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Old Dec 31st 2017, 10:07 am
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Default Re: Real Estate Development near Budapest. Please advise.

I agree with Stegy .....
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Old Dec 31st 2017, 10:14 am
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Default Re: Real Estate Development near Budapest. Please advise.

Originally Posted by Expatrick View Post
Now you're just being silly! Everybody knows you should be buying scratch cards and just think, you could really annoy Duztee by buying them all at the Post Office!
We actually know a Hungarian family who won the lotto two or three decades ago. They bought some land near Miskolc Tapolca and built a big house. Unfortunately, the father died before completing so they sold the house and adjoining land and split the proceeds, although one sibling got slightly more because he agreed to look after his mother until she died. I've seen both the original house and another built on the adjoining land. They must be worth so much more now.

Sorry for going off point ....
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Old Jan 1st 2018, 12:39 pm
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Default Re: Real Estate Development near Budapest. Please advise.

Originally Posted by duztee View Post
Most of us seem to be offering an opinion to the OP, with little response I'm thinking perhaps he (she) has kind of gone off Hungary as an investment opportunity.
Not so fast. Just been a bit busy with all these New Year celebrations. I’ll shortly get back to you guys.

Last edited by The Developer; Jan 1st 2018 at 12:54 pm.
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Old Jan 1st 2018, 10:06 pm
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Default Re: Real Estate Development near Budapest. Please advise.

Originally Posted by FenTiger View Post
I agree with Stegy .....
As do I. With someone who had no real prospect of owning a property in the UK, short of inheriting one, I'm afraid I have little time for people who treat houses as currency rather than a place to call home.


I would hate to see generations priced out of houses in Hungary as well as the UK.
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Old Jan 1st 2018, 10:16 pm
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Default Re: Real Estate Development near Budapest. Please advise.

Perhaps a slightly different slant on things, I think we all pretty much accept the housing market situation is not brilliant here.
Perhaps anyone following this thread and thinking along the lines of investment should really be researching business opportunities.
I know nothing, but would hazard a guess that there is plenty of willing labour to be had for a very reasonable rate, if you can think of something profitable for them to make, or find a business that needs the investment.

I am sure if my top of the head thought is wildly impractical someone will correct me and put other readers straight.
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Old Jan 2nd 2018, 8:35 am
  #29  
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Default Re: Real Estate Development near Budapest. Please advise.

CC & Duztee, I think you both made valid points. Like all Countries, Hungary needs further inward investment, to provide opportunities, particularly for the young.
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Old Jan 2nd 2018, 9:34 am
  #30  
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Default Re: Real Estate Development near Budapest. Please advise.

As has been pointed out above and in other threads the Hungarian housing market differs substantially from the UK market. The UK market suffers from shortage which drives the price upwards until it over heats and then there is a 'correction' (crash) and people suffer negative equity until the prices recover. Hungary has an over supply of houses (but as with any fixed location commodity not everything is in the right place), a falling population and in addition to this Hungary does not have the habit of mobility that occurs in the UK, although this is changing. So supply and demand will increase prices in the UK and depress them in Hungary. Obviously location plays a part and cities and remote villages can alter the 'norm'.

With regard to the work force, Hungary is beginning to suffer the lack of skilled trades (recent TV articles) because a) youngsters do not want to train into 'dirty trades', plumbers, electricians and builders etc., the older trades people are not taking courses to keep up to date with new requirements AND the younger trades people who have a language skill have gone west for higher wages. In the Hungarian rural locations it is becoming increasingly difficult to find unskilled labour. I was talking to an Austrian farmer who, some years back, got his seasonal labour from Hungary, he now finds this not possible and his seasonal labour comes from Romania and Montenegro.

There are business opportunities here - just look at the number of multinationals who have opened up operations here in the past few years, however I don't think that there would be much chance of a small enterprise succeeding with an absentee owner / investor.

All of the above is just IMO
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