The Region's Property Investments Increased with One-Third June 27th, 2013

The number of property investments increased in the first five months of 2013. Until the end of May HUF 3.7-billion-worth of property was sold, which is 30 percent higher than that in the same period of last year. According to the results of the annual investment survey of the international commercial real estate services firm CBRE – which had 360 participants – Central and East Europe is the most attractive area for investments for 14 percent of the investors. The Hungarian Market Also Shows...

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Luxury Real Estate Buyers Pay with Cash June 27th, 2013

For those who invest in Hungarian luxury real estate it takes longer time to make a decision on buying, opposed to those who are interested in properties of a lower worth. Luxury real estate buyers usually buy for cash, not on credit. Luxury properties situated in Budapest, in the agglomeration and at Lake Balaton are the best sellers. Luxury apartments worth more than HUF 100 million and houses worth more than HUF 300 million are the most popular among the investors. At the Pest side of Budapest...

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Development of the Palotanegyed Continues June 27th, 2013

The second part of the restoration of the Palotanegyed is about to start in September. The development of the area located between the Grand Boulevard and the Small Boulevard costs HUF 800 million, of which HUF 500 million is expected to be provided via a tender. According to the plans the construction is about to be finished by fall of next year. The Palotanegyed (Palace District) is the inner part of the Eighth District of Budapest called Józsefváros (Joseph Town). It is located east behind...

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Real Estate Industry is Predicted to Grow at 10 Percent June 27th, 2013

The real estate industry changes cyclically, according to the current trends in the economy. The changes in the industry mirror the given country's history of economy. For example, in the USA the real estate industry was blooming after the World War II, decreased in the 1970s, increased in the early 1980s, decreased again in the late 1980s, and rose at the end of the 1990s. In spite of the low interest rates, the industry was blooming in the mid-2000s, up to the beginning of the crisis. The Location...

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Why to Invest in Hungary? June 27th, 2013

With its central location in the continent, Hungary is a popular destination for investors who would like to expand their business in Central or Eastern Europe. The country's greatest assets are the transport infrastructure and the quality of education and labor force. Several companies in the automotive, electronics, pharmaceutical and food industry have a subsidiary in Hungary. Transport Because of Hungary's central location in Europe, the country is at crossroads of four European transportation...

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How to avoid high penalties because of your Budapest property? June 27th, 2013

- Did you know that you have to pay tax after your Budapest rental income in Hungary? - Did you know that missed tax payments and penalties in Hungary can be collected even through the tax authorities of your own country? - Did you know that your income tax can be minimized by professional accounting service? Do it right the way and save money with Tower! - Most efficient tax service in Budapest - In-house chartered accountants specializing in property taxation - Fully comprehensive tax returns...

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