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We are delighted to be able to offer our clients the opportunity to purchase on this stunning new Mediterranean style development. Situated in the up and coming district 18, home to the International Ferihegy Airport, lies this fabulous project. Completion end 2009. 80% finance available - superb buy to let opportunity.
Consisting of 336 luxurious apartments, set in luscious gardens and benefiting from outstanding views of the Holmi forest and lake, this development is set in an exciting yet tranquil location. Aimed at the Hungarian market, expatriates and foreign investors. It would make an ideal purchase if you are looking for steady capital growth and rental opportunity.
This modern Mediterranean residential complex with luxury amenities is being built in two phases. Phase 1, consisting of 168 flats is due to complete in mid 2008 which has now almost sold out and Phase 2 comprising of 168 flats, will be completed by the end of 2009. The developer has allocated a small number of these to foreign buyers and we are therefore delighted to offer this fabulous project to our clients at Shooba.
Apartments range from smaller 28m2 studios to one, two, three or four bedroom luxurious flats for larger families. The building itself will be up to six stories high.
Zaragoza presents the opportunity for buyers to own a modern, high-spec, affordable apartment within a secure complex in the highly sought after affluent, up and coming suburb of the 18th district. Apartments will be built to a high standard including built-in cable, Internet services and each flat has a terrace, balcony or garden.
Amenities
The communal areas of the development are leafy and there is inner courtyard park with a pond in a Mediterranean style setting. There will also be a selection of retails outlets. The surrounding area of Zaragoza has excellent amenities including,
- Excellent public transport links and access to the whole of Budapest (Town centre - 12 minutes, nearest airport less than 5 minutes, nearest train station 3Km, nearest bus stop 200m)
-Schools and nursery
-Post office
-Surgery
-Fitness Centre
-Beauticians
Location
In the increasingly popular district 18 in Budapest, Zaragoza is positioned on the fringes of the beautiful Holmi forest and lake and the building offers panoramic views of the forest.
Yet the development is just a short journey from the airport.
Demand for housing in the airport District is growing fast as Budapest International Airport undergoes rapid expansion. Having already added a second runway and terminal, the Budapest Airport is continuing to grow its operations as the major logistical hub in Central Europe and the portal to a great tourist destination. In 2006, British Airways management arm BAA purchased the Budapest Airport and laid out an ambitious expansion plan for the coming decade. The expansion of the airport is leading to further business and industrial proliferation around the airport, for example, the under-construction AIG Lincoln Airport Business Park, which is a 65,000 sqm (and growing) industrial and business facility, already harbouring multi-national tenants such as BMW, OTP Bank, FedEx, DHL, Lufthansa and KLM.
The development is strategically situated less than 1km from the M0, Budapest's new ring-road encircling the city, enabling easy access to the airport and the Buda side of the city. This is scheduled to complete in 2006 and we anticipate that completion of the M0 will add impetus to the growth in property prices in the 18th district.
Investment
Bank guaranteed and funds will be held in an Escrow account, the project is ideal for investors and very safe
As the development is off plan and only 25% is payable on exchange it means the investor can take advantage of the capital growth of the property without putting down the full amount.
Mortgages are also easily obtainable for UK buyers so you could always mortgage the property on completion – generally 70% - 80% LTV and rates of approx 5%. You could then let the property out and you would receive a rental yield of 6-8%.
Additional costs would come to approx 5% of the purchase price
The 18th District is the fourth largest of 23 city districts in Budapest and is a leader in terms of growth, development and investment
Numerous Investment and Regeneration initiatives are underway and are being planned for the 18th District in the coming years
Modern real-estate in the area is experiencing rapidly growing investor and consumer demand
Contracts are reassignable so you can flip before completion
Long lead time between deposit and completion
Strong and growing demand for rentals in this area
Increasing local demand for sales property in the area - giving you an exit if you decide to sell on
The developer is restricting the number of units sold overseas
Additional Information
Letting and Furnishing Agents: BP Properties Ltd Standard kitchens are fitted and contain built-in ceramic hot-plate, extractor and oven. This furniture includes a sink and tap with fittings
Bathrooms are fitted with Alföldi, Egeseramik or the same quality WC-cup, wash-basin and steel or acril bath. The WC is with white plastic seat. Ferromix, Kludi or the same quality tap-system on the wash-basins and baths. In bathrooms connection points for washing machine
Each flat has a terrace or balcony
Either an indoor or outdoor parking place must be purchased with each apartment €10,000 underground garage, €5,000 outdoor parking place
Free inter-calling between neighbours
24 hour security camera surveillance service
Fast built in Internet and Cable TV services available
Airport Budapest International - 5 mins Beds 1, 2 and 3
Furnished Fitted Kitchen Garden Shared
Heating Internet
Parking Playground
Security 24hr CCTV
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