Property Market News from Budapest, HungaryStay up-to-date on the property prices and real estate market trends in Budapest.

Hungarian Crosses the Atlantic in a Canoe March 26th, 2012

It took 76 days and his canoe capsized at one point, but a Hungarian adventurer has paddled across the Atlantic Ocean from Europe to the Caribbean, his wife says, and in doing so has entered the Guinness Book of Records. Architect Gabor Rakonczay, who began his adventure in Lagos, Portugal, on Dec. 21, and stopped for several days in the Canary Islands, reached the island of Antigua on Sunday, his wife, Viktoria, told Hungarian state radio. When his canoe capsized at sea, he managed to save it but...

Following the closure of Hungary’s national airline Malev a raft of low fares airlines lead by Ryanair and Whizz Air have increased the numbers of routes and flights to and from Budapest. Of course it’s sad to see Malev close but on the upside the increased competition will more than likely mean more affordable flights to Budapest for travelers. Ryanair has stated it will add 31 new routes and the airlines Wizz Air, SmartWings, Air Berlin and Jet2.com have all announced increased activity as...

After a nearly one-year continuous decline, the economic confidence index of Hungary’s GKI-Erste has risen for the second month in a row in March. The seasonally adjusted index stood at -19 points, up from -22.5 pts, back at end-summer 2011 levels. The survey, conducted by GKI Erste with EU support, shows that the consumer confidence index rose to -49.9 points in March from -51.2 pts in Feb. The business confidence index went up to -8.1 pts from -12.4 pts. Within the business sphere pessimism...

While Hungary’s ruling Fidesz party, and opposition parties MSZP and LMP enjoy a slowly growing support, the far-right Jobbik party is losing followers and the Democratic Coalition cannot increase its popularity, the latest survey by Ipsos showed on Wednesday. It also found that the ratio of voters with party preference is shrinking. The poll conducted in mid-March with a 1,500-strong sample (18 years of age and above) shows a 19% support for Fidesz (cc. 1.5 million people) and a 14% support for...

Playing down a local media report, the International Monetary Fund’s (IMF) Resident Representative in Budapest said the Fund has no plans to send a team to Hungary in April, and there has been no change in the situation around talks on a potential aid deal. The forint has weakened on the announcement and dragged its regional peers with it. Analysts see chances of Hungary securing an IMF/EU credit line slipping further away in time. Some already believe no deal will be made before the third quarter...

Today (Feb 3rd) you may have noticed in the news that Hungary's national airline Malev has ceased operations. This is a great shame as Malev has always been a quality airline. Tower's own directors were today stuck in Dublin, but have since found an alternative flight. Below is a news story on the closure from the Irish Times and Reuters: Hungarian flag-carrier Malev ceased operating early today after 66 years of almost continuous service, after its planes were held overseas for unpaid debts.Prime...

Property Market News from Budapest, HungaryStay up-to-date on the property prices and real estate market trends in Budapest.

Hungarian Crosses the Atlantic in a Canoe March 26th, 2012

Low Cost Airlines Increasing Flights and Routes to Budapest March 22nd, 2012

Hungary Business & Consumer Confidence Picks up Again March 22nd, 2012

Mainstream Political Parties Gain Support at Far-right’s Expense March 22nd, 2012

Hungary credit deal with IMF still a way off according to analysts March 22nd, 2012

Malev Airlines Grounded February 3rd, 2012