Cordia, the residential subsidiary of the Futureal Group, has taken over the development of the Sasad Resort project in the exclusive Buda hills area of the Hungarian capital from GTC, according to a press statement sent to the Budapest Business Journal today.

W Hotels Worldwide, a member of the Marriott group, will open its first hotel in Budapest in the former Ballet Institute building on Andrássy út in 2020, based on an agreement with owner Qatar-based QPR Properties.

After a full renovation of the building across from the Opera House, the luxury hotel W Budapest will feature 162 guest rooms and suites and a presidential suite, along with a spa, fitness centre and restaurant.

QPR Properties purchased the former Dreschler Palace in 2014 from a Portuguese investor.

Source: Hungary Around the Clock

Szeretlekmagyarorszag.hu writes that the average square metre price of new apartments was 500 thousand forints (~1619 euros) in the beginning of January, while the price of used apartments was around 377 thousand forints (~1221 euros). Regarding the countryside, ingatlan.com’s survey showed that the square metre price of new apartments are the highest in Debrecen, Kecskemét and Veszprém. The prices show significant differences by region. For instance, the average square metre price of new homes in Budapest is 588 thousand forints, while in case of used apartments it was around 458 thousand. The same rate of new homes varies between 339-392 thousand forints in county centres with a more active estate market, like Debrecen, Kecskemét, Győr, Székesfehérvár, Veszprém and Szombathely, while the price of used homes varies between 246-293 thousand forints.

Looking at the average prices of new homes at county centres separately, Kecskemét was the most expensive in the beginning of January with 392 thousand forints/square metres, the second was Debrecen with 381 thousand, and the third was Veszprém with 353 thousand. These prices mean a 6-21% increase compared to last year.

According to the survey, the market of used homes is probably going to stay active, the prices might change a little, but experts don’t anticipate a decrease. However, it might happen that the appearance of new homes will restrain the increase of prices on the used apartment market of Budapest and other bigger cities. And the predicted supply-growth on the market of new homes will be covered by the demand. Prices might increase slightly, but the rise will surely stop at some point as the financial capacities of households have limits.

Source:
http://www.szeretlekmagyarorszag.hu/

http://dailynewshungary.com/estate-prices-continue-rise-hungary/
 

Budapest has a reputation as one of the cheapest holiday destinations in Europe. The British Post Office, which ranked Budapest as the third cheapest city for a weekend break in a previous survey, has now compiled a Christmas Market barometer to find out which European city with a Christmas market is worth a visit in this holiday season, napi.hu reports. Eleven European cities were ranked according to the total costs of an Advent holiday break, as well as individual items such as accommodation for 2 nights, travel costs, a two-course meal with a bottle of wine, and of course food and drinks at the Christmas market. Moreover, since many people do their Christmas shopping while travelling, the Post Office also surveyed the costs of some typical Christmas gifts.

Local startup GreenGo is launching Hungary’s first electric car sharing service in the heart of Budapest, offering a total of 45 cars for those looking to find an alternative way of transport in the capital, according to a press statement sent to the Budapest Business Journal today. 

Cordia, Futureal Group’s residential development subsidiary, has announced the largest roll-out of residential development projects in Hungary by any developer in the last 20 years, according to a press statement sent to the Budapest Business Journal today.

The Hungarian real estate market is getting greener, real estate firm CBRE says in a report sent to the Budapest Business Journal today. One-quarter of modern office buildings in Budapest have been granted sustainability evaluation certification, while even among the older office buildings a growing number are applying newer, more sustainable technologies, the report finds.

Hungary’s CSOK housing subsidy scheme is growing in popularity, reports online daily napi.hu. Introduced at the beginning of 2016, to date some HUF 56 billion (USD 207 million) worth of new housing subsidies have been paid out to some 27,000 families according to Katalin Novák, undersecretary for family, youth, and international matters at the Ministry for Human Resources.

Real estate firm CPI has finished the construction of a 6,700 square-meter warehouse for BTS Logistics in the Airport City Logistics Park in Vecsés, near Budapest’s Liszt Ferenc International Airport, according to a press release issued today. 

In anticipation of increasing traffic at Liszt Ferenc International Airport, operator Budapest Airport is investing HUF 5.2 billion in adding a new 220-meter pier to the airport by 2018, communications chief Mihály Hardy told Hungarian economic daily Világgazdaság today.