hungary property looking increasingly undervalued
News Posted On: 10 March 2011
Anyone looking for a holiday home might want to take a look at Hungary property as is although the country doesn't have ski resorts or a pretty coastline it still has a lot to offer the discerning holidaymaker. The people here are extremely friendly, the country has low crime rates and the cost of living, including housing is extremely cheap. To top it all the capital city of Budapest has to be one of the most beautiful in the world.
It is possible to buy a two-bedroom flat in Budapest for as little as £65,000, with prices down 15% from their peak, and experts expect the market to recover very soon, as the rental market here is extremely lively, with rental yields of 6% being perfectly achievable. Anyone wanting to taste rural life can buy property incredibly cheaply, as prices start from as little as £10,000. Some of these rural areas have extremely easy access thanks to low-cost airlines which have return flights for under £100.
The majority of British buyers choose homes in the Lake Balaton region which is just an hour's drive from Budapest. The area is extremely beautiful with a wide variety of watersports and thermal spas being available, while a national park dominates the region to the North. Most of the holidaymakers here are Hungarian, and with the national average weekly wage being £100, restaurants and amenities are priced accordingly. Britons should feel very at home here as there is a Tesco, Safeway and Lidl supermarket nearby.
Although the country is land locked its ideally located for exploring the rest of Europe. The Adriatic is only a couple of hours away and Vienna is just one hour away. Prices here are 40% cheaper than the more popular Croatia.
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