Expatriates living in Hungary prefer properties in downtown Budapest, according to one expert.
Expatriates living in Hungary prefer properties in downtown Budapest, according to one expert.
British-run Hungarian property firm Gateway Properties has claimed that the central area of the capital city is handy for local entertainment areas and multi-national businesses.
Dave Goedhals, Property Consultant at the firm, said that expats, students and those who retire to Hungary "prefer to be downtown".
However, he added that the majority of homes in this area are converted period apartments, though some often need renovation.
"In Budapest people tend to go for redevelopments or classic apartments, it depends on what your personal preference is," Mr Goedhals commented.
"If you get a classic apartment, you can get these beautiful classical buildings which have been renovated."
The expert also explained that the area classed as downtown is divided into several districts, all of which have seen investment in recent years.
Properties with a view over the Danube are in the fifth district by the nation's parliament building, while districts around the Andrassy Boulevard are reminiscent of the Champs-Elysees.
Hungary joined the EU in 2004 and recently relaxed real estate legislation to make it easier for the expatriate community and foreign investors to settle in the country.
