Development project for the construction of 14 apartments or an apartment hotel, Budapest, Hungary

Additional information is provided after the signing of an NDA

Development project for the construction of 14 apartments or an apartment hotel, Budapest, Hungary

1,800,000 €
2,176 € /m²
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  • Total area
    827 m²
  • Built in 
    1908
Details
Property parameters
  • Land area: 481 m²
  • Total apartments: 14

Two apartment buildings for reconstruction in Budapest.

Description

There are two buildings with a total area of ​​827 m² located on a land plot of 481 m²:

  • two-story front building with a basement and an attic with a bay window
  • two-story building without basement and attic located in the courtyard

Partially dismantling of partitions, doors and ceilings was performed in the facade building. The heating system, gas, boiler room are located in the basement of the facade building, there is a central water supply and sanitation.

The courtyard building is partially used for rental for commercial purposes.

The rest of the land is occupied by a courtyard dividing the buildings. The courtyard is tiled.

The buildings are located in a residential area surrounded by other apartment buildings.

The property has all the necessary permits for the construction of 14 apartments, 5% VAT is kept.

Location and nearby infrastructure

Budapest is the capital and the most populous city of Hungary, the tenth-largest city in the European Union by population (1.8 million). It is the center of Budapest metropolian area with over 3 million population.

The average income in Budapest is about 750 € per month.

In 2018 Budapest was the 4th Hungarian region with lowest unemployment rate.

Budapest is home to over 35 higher education institutions, many of which are universities.

The city is a major centre for banking and finance, real estate, retailing, trade, transportation and tourism. Over 400.000 domestic and international companies were registered in Budapest.

Budapest is one of the most visited cities in the world (4.4 million tourists per year).

The popular landmarks include the neo-Gothic Parliament (the biggest building in Hungary), Basilica of St. Stephen, Andrássy Avenue as well as more than 200 museumes and galleries.

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