Full Description

Highlights

Prime locations in District 5 (historical downtown of Budapest) near the river, the Parliament, bank and government area - the most sought after area
Fully renovated classical buildings, newly-built loft conversion apartments with compelling architecture
Luxury design and top quality materials
The only kind of apartments of which there is a shortfall in the Budapest market (luxurious newly-built in District 5)
Outstanding rental yield of 7%, high rental demand
Very high, steady capital growth

Investment

We are offering investors a fantastic opportunity with these exceptional projects in the best and most sought after locations in Budapest. District 5 is the historical downtown of Budapest running alongside the river Danube, hosting the building of Parliament, head offices of banks and numerous ministries.

This is the only kind of apartment of which there is a shortfall in the Budapest market: newly-built apartments of this quality in District 5 are very rare therefore there is high demand for them.

Due to the limited supply these apartments perform extremely well in the tenant market: international companies are looking for them for their expats, ministry and embassy employees find them attractive and foreigners staying in Budapest temporarily. At this prime location and with an outstanding quality you can reach a 7% rental yield which is exceptional in the Budapest market.

The number of these unique apartments is very limited in District 5 and will never satisfy the demand. For this reason they will produce a steady and high capital growth in the forthcoming years, and in the long term they are the best investment opportunity Budapest has to offer.

Development in Veres Palne Street

A new development of seven loft converted penthouse apartments in the Vth district of Budapest in Veres Palne u. Completion is expected in 1st quarter 2009.

The building has a superb location between Váci utca and Karolyi utca in the heart of the Vth district. The building has three street facing facades, one to Veres Palne utca, one to Szivarvany koz and one to Cukor utca, which is a pedestrian street.

This building, as the majority of the buildings in the area, was constructed at the turn of the 20th century. The building was built in 1892 in romantic style. As part of the development all facades and the interior of the house will be refurbished.

As part of the development of the loft penthouses the building will be totally refurbished to integrate what is beautiful from the past era with all the luxuries of modern day living.

The refurbishment will encompass the renovation of the outside and interior façade. Further, as part of the development the entire mechanical and electrical parts of the house will be refurbished. A new elevator will be installed in the interior courtyard, which will give access to all existing floors and the rooftop apartments.

Location

The building is in a similar environment as some of the earlier projects of the developer. Just one street off the old Váci street in the heart of the fifth district in the downtown of Budapest. The area is surrounded by universities, schools, restaurants and coffee shops.

Within a minutes walk you can reach the old market hall, or the shops and restaurants of Váci utca and Ráday utca or be on the other side of the Danube and take a walk on the Gellért hill.

About the project

The smallest apartment will have a net area of approx. 75sqm, with the largest having a net area of approx 230sqm. The apartments range from one bedroom properties to up to four bedroom duplex penthouses. The majority of the apartments are two bedroom duplexes.

The seven top floor penthouse apartments all have a second mezzanine floor, from which the roof terraces will be accessible. Some of the apartments have additional roof terraces as flat roofs on top of the mezzanine floors.

Quality

The apartments will be finished to the highest standards with top quality materials. Many extras are included in the price: individual heating system and air-conditioning, Italian designer kitchen with integrated fridge&freezer, dishwasher, oven and hob, Blanco sink and tap, professionally designed bathroom, wooden parquet, video entry phone, alarm and many more. Please ask for detailed technical specification.

The developer has several reference buildings and apartments to show the exceptional quality they represent.