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

New Energy Efficiency Certificate Introduced January 27th, 2012

As and from the 1st of January 2012, and according to EU Directive 2002/91/EK, all properties in Hungary must obtain a valid energy efficiency certificate when properties are either let for 1 year or more or sold. It applies to both buildings and the apartments / units within them. According to the decree an energy certificate must be obtained / provided when properties are let or sold, but also if deeds are transferred. The certificate is valid for 10 years (although in certain cases new certs...

Hungary's forint has not been as strong as on Thursday morning for three months. Shortly after 8 A.M. the HUF was quoted south of 296 versus the euro on the interbank market. After 09:00 it gained even more, going below 295. The forint rebound with momentum from its all-time low reached early in the year. During its appreciation it breached both psychological and technical barriers with ease, buoyed by the expected turnaround in the government's economic policy and increased confidence that Hungary...

Many of you may have read recent news regarding the Hungarian government's negotiations with the IMF and EU, along with the news that HUF has dropped significantly against the EUR and Swiss Franc. At the time of writing the HUF is 314 to the EUR, which is an improvement of almost 10 points on the low of the last few days of 324. These are legitimate concerns. The reason for these issues however are a matter for debate. Most commentators believe it’s directly due to Government policy while the...

Tower has recently completed its move to new head offices in Budapest. After spending the last three years at our Revay Street office we have moved to larger premises on Vaci Avenue just across from the Westend City Centre shopping mall and Hilton Hotel. The full address is: Tower Property Group West End Business Center Budapest XIII Vaci ut 22-24 HUNGARY We are situated on the 7th floor. To view the location please click on the following link: New Tower Location The office is...

The Hungarian government as part of its plan to increase revenues to the exchequer has raised VAT by 2% in the new tax year. Which means that from January VAT on most goods and services rises from 25% to 27%. Tower's recurring fees will not alter however the increased VAT will be reflected in the final price of all services. The recent reduction of income tax to 16% of the profit still remains, with corporate tax still standing at 10% of the profit.

Hungary’s government can reach an agreement with the Banking Association on new opportunities for foreign currency borrowers by Christmas, said Zoltán Cséfalvay, state secretary at the Economy Ministry, on Thursday. He also said the country’s debt-to-GDP ratio could drop to below 77% by the end of this year. Talking to InfoRádió on Thursday, Cséfalvay said an agreement may be reached soon between the government and the Banking Association on "further opportunities for foreign currency debtors"....

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

New Energy Efficiency Certificate Introduced January 27th, 2012

Forint at its Strongest in Three Months January 27th, 2012

Forint Drops but Real Estate Activity Continues January 6th, 2012

Tower Moves to New Offices in Budapest December 23rd, 2011

Hungarian Government Raises VAT to 27% December 9th, 2011

Hungary banks, gov't to agree on FX debt fix by Xmas, 2012 growth uncertain - Enonomy Ministry December 9th, 2011