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Budapest June 2021 Real Estate Market Update
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- čas přidán 5. 08. 2024
- 📌 Find out more about Benedek and his real estate services in Budapest: thewanderinginvestor.com/serv...
📌 November 2020 article on Budapest real estate: thewanderinginvestor.com/inte...
📌 My real estate lawyer in Budapest, Hungary: thewanderinginvestor.com/serv...
The real estate market in Budapest has taken a hit, especially in the historical center. The borders have been mostly closed for over a year and Airbnb owners are trying to sell. Also, there is a mortgage moratorium that is due to expire soon, which could lead to even more opportunities. AT current valuations, core downtown real estate in Budapest has become an interesting long term play.
Timestamps:
00:00 Introduction and Budapest real estate market overview
02:28 Apartment visit in 5th district, Budapest
07:14 The real estate rental market in Budapest, yields, and Airbnb
09:26 Hybrid rental solutions in Budapest for better yields
10:09 Renovation costs in Budapest, Hungary
12:42 Mortgage Moratorium in Hungary and how to profit
15:55 Benedek, my real estate buyer’s agent in Budapest
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No part whatsoever of the discussion and presentation is, or should be considered as, investment advice, financial advice, legal advice, or tax advice. Always do proper due diligence and speak to a qualified professional advisor in your jurisdiction. Also, be advised that Ladislas Maurice and The Wandering Investor staff may own real estate or investments in the specific markets or opportunities that are discussed. The Wandering Investor may also have marketing agreements in place with certain opportunities that are mentioned.
Thanks for the transparency. Very interesting video
With CEU Moving out of Budapest and the difficulties to find permanent tenants, the
flat is still overpriced.
Amazing apartment! And indeed that area is amazing, super central, but no “party tourists”💙
Incredible work as always Ladislas, definitely an interesting play with all of the failed mortgages. I've been looking for a property here in Georgia with the capital preservation aspect in mind, even if yields aren't all that steady in the medium short term. Most importantly though... How was the duck?
Georgia is lovely. As for the duck, we went for burgers instead 🙈🙈
Beautiful city with beautiful buildings. I would never buy a new build there though as I like old architecture in such a place.
For this video to be useful the asking price should be highlighted, the floor plan should be included and a detailed walk through the apartment and its specific location should be included. Otherwise this is just a commercial.
Great apartment for the price. Budapest is a beautiful city and pleasant live in
Hello Benedek,
Very good work! Thank you. Thinking to approach you with my plans.
I have 2 questions:
1. Is it mortgage moratorium still on place? When it should be off and what are the expections about market reaction after?
2. Are there any AirBnB restrictions on place? If not what is going to be planned and when?
Thank you.
1. Yes, until the elections this Spring
2. It's up to the districts to choose. Some districts care, others don't
Very informative content and balanced I like it. I was in Budapest a few weeks ago and it's a really interesting spot. Do you have any details on how to get access to financing in Hungary directly? everything I see is LTV of 40% and upward. I would be far more interested in higher leverage. Also, an interesting product would be a hedged mortgage as your previous article rightly identified the HUF as the big risk here.
It’s very hard for non-residents to get access to local mortgage lending.
Bravo pour cette vidéo tout a fait intéressante sur le marche de Budapest, vous faites bien de faire remarquer que le prix relativement bas s'accompagne de frais de maintenance relativement bas aussi. Acheter un bien immobilier se fait sur le long terme, les couts d'entretien, les difficultés liées aux normes et aux lois que nous avons en France fait ouvrir les yeux sur des biens à 4-5% de rendement sans être trop embêté. Encore bravo et merci pour le partage des infos
Hi, informative video! My questions are 1. how much does the owner have to pay monthly for the apartment management fee and how much is the property tax annually, gas, water...etc?
Monthly common charges for such an apartment would typically be 60-100 euros including cold water.
Property taxes in the 5th disctrict are low. Maybe about 350 euros per year if on the long term rental market.
Gas and electricity based on usage.
Great video as always. Question, How to factor the political climate in a country you're thinking of investing in?
It’s very important. Hungary is politically business and investor friendly.
Would be super interesting to see how this market has changed since this video because so much has happened!
Update coming in the coming weeks
Great content, thank you. Just a quick question/note (December 2022): as of now cap rates (resp net op yield) as indicated in the use case are around 2-3% on centrally located (5-6-7. district) appartment. However due to the inflationary environment the mortgage cost (around 9-10% in December 2022) would jeopardize the income play on real estates. Do I see it correctly? Or is the whole "story" rather centered around capital appreciation/preservation rather than income? Thanks
It’s a cash game. I would absolutely not get a mortgage at this stage of the cycle.
I see Budapest core real estate as a decent place to park cash for people who want diversification.
For income, you do airbnb where it is allowed.
And I would absolutely not go all in Budapest or Europe for that matter.
@@TheWanderingInvestor thanks, that sounds to make sense now
Not just in Hungary but allover the world agents are giving unrealistic numbers on rental yields :D always take it with a reserve
Question about that mentioned price of renovation from zero to ready-to-use (600-700 EUR/sq m). Does it include both materials and services?
Yes
Budapeshht. Love the place.
Budapest a legjobb! :-))
I miss the bit on the 🦆😢😢 love it too 😋
😅
Great video bud!!
I would see investing in Budapest (Districts 5/6/7) as a long term game (10-15 years) where you can expect to at least double your property value and use the rental income to maintain the property and invest further in an apartment in Baltic/Developing countries or a farmland in Eastern European/Latin American countries. Cheers :)
Nice shirt
Budapest is waaay overpriced atm imo. But hey, everyone has their own strategy and yields are fine with.
The outskirts are way overpriced, where all the Hungarians have been buying. But core downtown, where prices have collapsed? There is value to be found.
@@TheWanderingInvestor I haven't seen discounts of 30%. I have a property in downtown, I am watching the market almost daily. Yeah, some airbnb are on the market now but having prices dropping 30%, it's hard to believe.
@@tiborveres6811 There is a big discrepancy between the average advertised price (most owners have not lowered their price since the Situation began), and actual deal prices.
@@TheWanderingInvestor fair point. Looking at the properties on Vamhaz korut right now. Seems this one in particular is sold already or not listed on the main property site :)
@@TheWanderingInvestor first of all compliments for your video, very nice and interesting. At the time in 2008 i bought in 5th district there was zero deal by the owner, nowadays you think there would be some negotiation also in Budapest like we are used in south Europe? :-D
Exploiting anothers city for your profit
J'ai mal à une oreille.
Va voir un ORL
What's the point in hiring a buyer's agent if he is showing you an apartment that he renovated?:) He would have been more credible showing you something in which he has no vested interest.
He’s showing the quality of renovations he can achieve. The goal of this video was to show the market and what he can do, not to sell this apartment.