resale value, budapest, district 7

T

Tarababy1

Guest
We have a one bedroom apartment in Madach gardens, district 7, budapest and are thinking of selling it on. Any ideas as to what we can expect to receive for it?

thanks
 
i have an apartment in akacfa utca district 7 and its going well for me being rented . do you really need to sell youre apartment because it could do well and supplement youre income here in ireland in the hardest of times that we are all experiencing . all i know is that the money that i have lost in my wages in Ireland is now being supplemented by me renting my apartment in budapest . i dont know whether this reply is any good to you but i do know that prices for apartments are down in every country and if you were to sell it in budapest you would be at a considerable loss rather than keeping it for the longer term . thats the way i would be looking at it anyway
 
Hi Seanieboy, to be honest we are thinking of buying a property in France to use/rent out as a holiday home. We're just about breaking even on the Budapest property at the moment so there is no great incentive to keep it.
 
Hi Tara,
I've used Tower Budapest over the past 6 or 7 years, they have a new office in Dublin ( http://www.towerbudapest.com/en/property_management/news/5 ) specifically looking to either manage or sell your apartment for you.

As regards resale value, it really depends on what you paid (per sq.m). I heard recently district 6 is about €13-1400 per sq.m for apartments built in the past few years - thats probably less now HUF is at record lows v EUR, and locals paying in HUF will be your main/only buyers. Dis 7 will be lower.

no harm asking them for a valuation.
 
Thanks Paddy, With the recent news about the economy in Hungary getting as bad as ours(!) we have decided to stay put for the moment.
 
thats probably a wise choice i think the forint is very low against the Euro and i know you probably want to make a few bucks rather than break even but Rome wasn't built in a day and there was never going to be a massive gain in the short term. One thing about the hungarian system its much easier to understand there tax system than it would be in france. it is meant to be very complicated . so beware if you do inted to buy
 
SOLD - district 6

Hi Guys,
Completed a SALE late last year in district VI with 1 bedroom 58 metres square for 16.75 Million HUF... Not a great price but it's a new world now regarding property.Leavin money in short term investment in Erste until some kinda recovery of huf.. Anybody want good references or advise just post here.Rgds Bryan (cork) ;)
 
Buda Tour of Duty complete

to be honest as was previously mentioned t'iz worst time to sell alright!! property low huf weak and puttin money in a bank is a bit lunatic BUT babysitting the aparmtent and dealin with issues became a little tiring so decided to off load.. never purchased to make monies just social/fun experiment, (and it's been that INDEED).Will still visit but now NO agency and bill worries.
 
I'm also selling my apt in Budapest, mainly cause I don't need any extra headaches at the moment.

I'm also concerned at the direction the Hungarian Govt is taking - their new constitution is bringing in a load of new laws that the EU is v concerned about. Primarily regarding the independence of the judiciary and the banks. Apparently, Hungary is no longer "the Republic of Hungary" but simply "Hungary".

Not sure if any of this means anything but I'm going to be a bit risk adverse on this one!
 
Selling Apt. in Budapest

Hi, I have a studio apt. on 7th. floor of Sun Palace development in Buda that I would like to sell. I would welcome any useful advice; particularly from Urban Legend or noni ref. their recent experiemces.
 
assistance ready

Nothing major to report just SOLD for 16.75 MHuf with Duna agent whom also supplied solicitor!! monies cleared to my account so all happy in the camp, agent charged 4.2% ... kinda high but i'd say u could negotiate... if you want more info drop me your mail :eek:
 
Hi Noni, I am also looking to sell in Budapest. I was wondering if you could send the contact details of the Estate Agent you used? Thank you.
 
Hi UrbanLegend, I am also looking to sell in Budapest. Also, I was wondering if you could send the contact details of the Estate Agent you used? Thank you.
 
Elizabeth, where are you selling? Is it new-build or classic? Duna House tends to be quite good but sometimes a more local agent is better. DH charge 3.8% + VAT as their standard fee if you give them exclusive rights. Local agents charge a lot less.
 
Interesting to see people are selling in Budapest. I guess you may have purchased pre-crisis so the rental yields don't stack up. I was actually thinking that Budapest might be just the sort of place to make a cash purchase. Rationale: favourable exchange rate, much lower prices, therefore better income stream. Give it five years...you'd expect improvement.

Never been there. Perhaps experienced folks can tell me. About €75k to spend. Can I secure 8% net rental yield or is that unrealistic even in the current depressed state of the market. If it is possible which areas should I be looking in? Oh and resale should be reasonably easy.

Much appreciated.
 
You can definitely make 8% yields here, but usually with new-builds in less than ideal locations (outer District IX or VI). Classic apartments in parts of V and inner VI tend to be better investments in my opinion, but have lower yields (6-7%).

There hasn't been any appreciation in Budapest in a decade, but that means that there haven't been any significant falls recently either. It totally missed the European property bubble of 6-7 years ago, but also missed the crash for the most part. Everything has fallen slightly, but new-builds and property which foreigners bought have fallen somewhat more.

There continues to be poor supply and lowish demand though, although good properties always sell when priced correctly.
 
Hi Budapest,
You mention local agents charging a lot less. I wonder could you give some suggestions for reliable agents that I might contact to sell in District 3 ?
Ta, Sandyllab.
 
You must log in or register to reply here.
Back
Top