Property Investments in Florida, USA September 10th, 2012

"US is top 2012 property investment pick" (Reuters)   As a response to increased interest from our international client base and external investor clients, this year Tower has started offering investment properties in Florida, USA. Please find below a short introduction to why investing in the US has become so popular today.  The timing seems to be right – prices of homes have come down by up to 70% since the Sub-Prime Crisis. Millions of homeowners were foreclosed on – and as an effect,...

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Is the Hungarian Forint Stabilizing? September 5th, 2012

Since Hungary seems to have come to an understanding with the IMF the Hungarian Forint showed signs of stabilizing in the last month particularly. August saw the Forint strengthen to 275 HUF against the Euro. This is its strongest showing since September 2011. Although the last week has seen the Forint weaken again to today's showing of 285 to the Euro. However this is still a far cry from the depths of last January, where the Forint sunk to an all time low of 320 against the Euro. Hungary will...

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Budapest Airport will move all airline operations from Terminal 1 to Terminal 2 during the night of 29-30 May 2012! May 11th, 2012

Passengers of these airlines will arrive at Terminal 2A (from Schengen countries) or at Terminal 2B (from non-Schengen countries).   As announced earlier, Budapest Airport will close Terminal 1 for passenger operations on a temporary basis. The loss of traffic in the wake of the collapse of the Hungarian national carrier Malév and additional tax burdens leave Budapest Airport no other choice but to reduce operational costs by combining operational areas, and thus achieving a better utilization...

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Budapest Card - Your Travel Companion May 11th, 2012

If you are visiting the capital, Budapest, you’ll find the Budapest Card an invaluable travel companion. Not only will it help you plan how to use your time (both activity and relaxing time) it will save you money too! But beware, while there are several different cards aimed at tourists, the Budapest Card is the city’s only official card and it is the only one accepted at all the places detailed on our information page. The beauty of the Budapest Card is its practicality...

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Budapest is the cheapest in the Visegrád Four - CBRE May 11th, 2012

Premium transaction yields are the highest in Budapest in the Visegrád Four countries, i.e. the Czech Republic, Hungary, Poland and Slovakia, CB Richard Ellis has said in a market report on Thursday. According to CBRE’s estimates, the spread between the yields in Budapest and Prague is around 100 basis points, while investors position Warsaw even higher.  Many European markets saw a rush of deals being completed towards year end. Overall, 17 out of the 26 markets monitored by CB Richard...

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Preparing to Submit your Tax Returns in Hungary March 26th, 2012

As you may know the fiscal year in Hungary runs in line with the calendar year from January to December. The deadline for submitting tax returns however is the end of May of the following year. However in Tower compiling information and making the relevant calculations starts well in advance. Unlike any other management firm in Budapest Tower took the step to hire chartered accountants to work within the company to handle landlord’s accounting and tax affairs in Hungary. This has benefited owners...

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