Investing in a flat in the centre of Budapest may not be profitable anymore

When buying a real estate with the aim to invest in it, the city centre comes to many people’s mind, because flats are easy to let there, even for tourists. Those choosing an alternative accommodation while staying in Hungary, look for one in the centre. This is reflected in the rise of real estate prices, which is attractive for certain Hungarian and foreign investors. Nevertheless, today, it is uncertain if a flat in the centre can bring high profit, Portfolio.hu notes.

While there are more people living in their own homes in Hungary than in other European countries, Budapest seems to be an exception: more people rent flats in Budapest than elsewhere in Hungary. In the next years, even more people will be likely to decide to rent one than buy one. This process may raise demand for flats to let near workplaces, Profit.hu informs.

Currently, more than ten thousand offices are being constructed in Budapest, thus rearranging the city image. According to office market experts, new office centres will be pulled up along the road leading to the airport, and at the junctions of highways. Developing traffic and public transportation at these points of the city will push the development of economy forward.