Hungary is one of Europe’s most beautiful countries. It is located in Central European with Budapest as its capital and largest city. In terms of international tourism, Hungary holds the number thirty (30) position for the most popular tourist destination in the world. This is an impressive recognition for a country with an area of only 35 919 square mile (93 030 km2).
Hungary has ten (10) national parks and about one hundred eighty (180) nature preserves and protection areas. From the lush prairies of the Great Hungarian Plain to the gentle hills of the Pannonian Basin; Hungary’s landscape is full of charm and unique character.
Real Estate in Hungary is a thriving industry offering properties of all categories. Without a doubt, the Hungarian property market is robust. International investors are seizing the opportunity to own a little piece of one of Central Europe’s most favored and charming nation.
There are many reasons Hungary has become a prime real estate destination for luxury living. Many of these reasons are attributed to its natural environs. Hungary is the home of many spectacular locales and natural wonders such as:
- The largest thermal water cave system in the world: This cave system houses many hot springs.
- The world’s second largest thermal lake (Lake Hévíz): This lake has an area of about 47 500 square metres and is the location of the world famous Hévíz Spa.
- Central Europe’s largest lake (Lake Balaton): It is a freshwater lake located in Hungary’s Transdanubian region.
- Europe’s largest natural grasslands (Hortobágy): A national park in Eastern Hungary with an area of over 800 km2. It is a part of the Alföld (Great Hungarian Plain) and became Hungary’s first national park in 1973.
The Hungarian property market features exquisite resort towns that are part of Lake Balaton. They include Balatonfüred and Keszthely on the north shore and Siófok on the south shore. These towns are home to many luxurious resorts and high-end real estate. Other resort towns offering choice real estate include:
The northern shore of Lake Balaton offers apartments and homes ranging in price from USD$500 000 to USD$3 million; while the south shore of the lake have more moderate pricing starting at around USD$390 000. The south side of the lake is shallower and is favored for swimming while the north side is much deeper and sees more boating activities.
Due to the presence of several universities in the Lake Balaton region; this makes for consistent pricing as well as increasing real estate property values. For this reason, many international developers and investors alike, capitalize on the investment opportunities that these university towns offer.
Now is definitely a good time to purchase real estate in Hungary. Since the global real estate crisis that occurred between 2007 and 2012; Hungary’s real estate prices had fallen about 25% to 30%. However, the market is now on a steady recovery pace.