Hungary

Hungary is an emerging hotspot in the overseas property market. Located between Austria and Romania it is a country that has something to offer for everyone.

Home to more than nine million people, Hungary boasts thermal spas, beautiful bird life, colourful culture and incredibly low property prices.

"Buying property in Hungary today is definitely a good investment," said Ewald Lang, managing director, Hungarian Properties. "With an annual 6-8% rental yield and over 10% capital gain, it is a wise decision to make at this time."

The landlock country is an emerging hotspot with Liverpool based company, Sutton Kersh Aboard, who have experienced a tremendously successful last six months in the Hungarian property market. Sutton Kersh have a Hungarian property portfolio that exceeds 800 properties and building plots ranging from £6,999 to £300,000 on their books.

John Takacs, who is the company’s international sales advisor, says that one of the main benefits of buying property in Hungary is the land is bought freehold- “It’s well protected by a Land Registry system, which was overhauled and revamped at the end of the Communist era.”

For those looking to develop their purchases, labour costs in Hungary are low, with the average labourer bringing home the equivalent of £70 per week. Refurbishment costs are therefore low and local resources are of good quality and are readily accessible.

Hotel developers are currently making the most of the popular tourist destination by building as many four- and five-star hotels as possible to accommodate the increasing amounts of tourists.

According to the Ministry of Economic Affairs, in Hungary’s capital, Budapest, there have been a total of 16 new hotels opened in the last three years.

And getting to Hungary has never been easier, as companies such as Ryanair start providing flights from North West airports direct to Lake Balaton, which is west of Budapest, and Easyjet, Wizzair, British Airways and Jet2 all flying to Budapest.

On Sunday 18th November, Sutton Kersh are holding an Open Day at their Old Swan branch on Broadgreen Road between 12pm and 4pm to raise awareness of the investment opportunities and beauty that exist within Hungary whilst showcasing their portfolio of Hungarian properties for sale starting from £6, 999.. For more information contact John Takacs or Carl Parle at Sutton Kersh Abroad on 0151 259 2622 or visit www.suttonkersh.co.uk.

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