Raleigh, NC (PRWEB) October 4, 2007
Irish estate agent HomeInternational is proud to introduce an exciting new development in Budapest: Danubio Park. Part of the Marina Part development, on the banks of the Danube, this is a fantastic opportunity to invest at the very start of a marina regeneration project, in a city already enjoying strong economic growth and in which the property market is widely predicted to take off even further in the coming months and years.
Danubio Park is in Budapest's District XIII, just 6 kilometres outside the city centre, on the banks of the Danube. With a range of apartments to suit all budgets - from studios to luxury 3 bed apartments, Danubio Park offers a convenient commute to the city centre with an excellent public transport infrastructure already in place. The exciting design incorporates large green spaces and all residential apartments will feature large terraces with street or garden views and the apartments will range from studios at 33.75 square metres to fabulous 3 bed apartments at 93.71 square metres.
Budapest is an incredible capital city - effortlessly combining a heady mix of old-world charm with a distinctly modern and cosmopolitan feel. Often likened to Paris and Vienna, the "Pearl of the Danube" has seen a huge amount of foreign direct investment over recent years and is one of Europe's most dynamic cities.
Attracted by the well-educated workforce, low set-up and operating costs, plus low corporate tax and property prices, many blue chip companies have established factories and offices in Budapest: KPMG, General Electric, Citibank, Ernst and Young, Coca-Cola, Hewlett-Packard, Nissan, Siemens and IBM, to name but a few. This huge foreign investment has seen a surge of young professionals flooding into the city. Demand for rental properties is high. With its wide avenues, beautiful parks and stunning architecture, Budapest also holds great appeal for tourists. In 2005, Expedia called it the best city to visit in Europe - in the same year, tourism rose by 17%.
Over the last 18 years, Hungary has developed one of the most prosperous and stable economies in Eastern Europe, thanks to an ambitious programme of financial reforms which has seen inflation fall and annual growth increase steadily. An average 13% increase in productivity year on year has made many market analysts draw parallels with Ireland's economic development - where a huge boom in 1989 settled into sustained growth of around 15-20% per annum.
In addition to being a top class residential development, Danubio Park will have all the conveniences of a small-scale modern city with a superb shopping centre, parks, a leisure centre and a new marina. Developed by Spanish company, Fadesa - the largest building company in Spain with thirty years' experience - investors are assured that this project has been undertaken by one of the most reputable names in the construction industry. With such a high demand for accommodation in and around Budapest, the potential for rental income is great - with average rental yields of 6-7%. With the first phase of Danubio Park already completed - and apartments quickly snapped up on release by Hungarian nationals and foreign investors - interest is high for the next phase with the whole project due for completion by 2009. Often likened to London's Docklands project…but without Docklands prices, an apartment in Danubio Park is a chance to get ahead of the game with cheap entry into a city centre marina regeneration project. Rental yields are substantial and prices are set to increase - particularly in the run up to Hungary's adoption of the Euro in 2010.
# # #