Hungarian Conservative

At a press conference titled Park City or Rákosdubai, Budapest Mayor Gergely Karácsony stated that in April they will launch a month-long online voting process where every Budapest resident over the age of 14 with a registered address can express their views on the investment plans for Rákosrendező.

In Hungary, people traditionally think in terms of owning their own homes, which not only provides predictability but also financial security for the next generation.

Unlike the existing conditions, CSOK Plus does not distinguish between new and used residential properties. New homes are generally more expensive, which means that the same amount of money will buy a smaller property. However, the good news for buyers is that 80 million forints might be sufficient for purchasing a multi-room new apartment or house. On the other hand, new constructions are often more energy-efficient and have more modern layouts compared to properties that are several decades old.

Among buyers from abroad, Germans are the most active. Of transactions facilitated by real estate agency Otthon Centrum, 30 per cent of foreign buyers came from Germany, followed by Slovaks and with Romanians in the third place.

Until now, Hungarian international investments were present most spectacularly in the banking and oil industries, but the phenomenon has also been spreading to a much lesser extent in the cultural sector. This time, the hostile attitude towards Hungarian capital outflows is most noticeable in Slovakia.