While sales and prices fall, bargains are to be found in the Hungarian capital of Budapest. When John Harrison, a banker from London, bought his first flat in Budapest with a group of friends in early 2008, his reasons were financial, but emotional too. “I thought that business would gradually move east and Budapest would become a hub for the whole region,” he says. “There were already plenty of e…
"Bonus burning a hole in your Louis Vuitton wallet? Didn’t think so… If, however, you’re looking at the coming twelve months with apprehension about where to stick your savings – stock market unpredictable, bank accounts unsafe, under the mattress looking a bit damp… the people at Global Property Guide think you might want to look again at bricks and mortar…1. Hungary, Budapest. Good yields, low t…
"The number of unsold homes in Budapest fell to 3,100 in January from a peak of 3,800 in 2009, according to OTP mortgage subsidiary OTP Jelzálogbank. This year home builders expect to break ground on 2,000 new units, after 2,500 homes were built last year.
"Hungary may need to abolish its “flat” income tax system as early as during the course of this year to satisfy demands by the International Monetary Fund in return for a bailout, Nepszabadsag reported, citing unidentified government officials."
"Levante Jancovics is one of these ordinary citizens, trapped in a financial nightmare. The slightly unkempt 42-year-old teacher - with shaggy Jerry Garcia hair and beard - lives in Budapest, the Hungarian capital, in a chilly two-bedroom flat amid a labyrinth of communist-era, cement high-rise apartments."