Hungary – Europe’s most undervalued residential property market

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 27, 2010 -- The Hungarian property market has performed poorly this year. The country’s economy is in trouble, and the country is in the hands of the IMF. The Hungarian currency, the forint, lost substantial value last year. Its construction industry is deeply depressed.

The Global Property Guide publishes regular independent reports on the world’s residential property markets.

In its latest report, GPG makes the following comments:

“Hungary is an investment opportunity. Not because buyers have made a lot of money out of Hungarian residential property. They have not (though the rents can be good). But rather, Hungary’s crisis gives buyers an opportunity.”

Positive factors the report cites about Hungarian residential property:
• The first rays of confidence are returning
• Rental yields in Budapest are higher than anywhere else in Europe
• Costs are lower (per square metre) than in any other comparable European capital
• Interest rates are falling
• Buyers are returning because tourists in Budapest need to stay somewhere, and house-hotel yields are good.
• The Hungarian current account is positive, the trade account is in surplus, because of currency weakness

• The law clearly favours landlords

Taxation
• No capital gains tax after 5 years
• Income tax is at around 18%
• Inheritance tax is low
• Buy / Sell costs are reasonable

If you wish a copy of the report sent to you, please email info@globalpropertyguide.com


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Publisher:
Matthew Montagu-Pollock
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