Property Market News from Budapest
Read our latest articles about recent regulations, market trends and real estate prices in Hungary.
Wizz Air, one of Europe's largest airlines, is setting up a new training and education centre near Budapest, at Liszt Ferenc International Airport. When implemented, it will be the largest aviation related training centre in the region and the most up-to-date in Central and Eastern Europe. The project will be completed by the end of 2018. “By the end of 2018, we will have an international team of over 1000 pilots and 2000 cabin crew to be trained on a recurring basis. These numbers could triple...
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The Tungsram brand, which has over 120 years of history, becomes a Hungarian brand again! In February this year, the current owner, GE Lighting, announced the selling of its European business, and a new owner will take over the entire Hungarian unit. This new owner is Jörg Bauer, CEO of Tungsram Group. The company, which has been operating since 1896, deals not only with manufacturing but also with laboratory research. Tungsram is the world's largest distributor of incandescent lamps, radio...
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A new development, a Battery Parts Factory has recently been completed next to Budapest, in Monor by the South Korean Shinheung Sec Ltd. The investment was also supported by the Hungarian government. The production has started in the new facility, which was developed at a total cost of around 20 million euros. With this, the European headquarters of the largest automotive parts manufacturer in the world of electric cars became the Monor facility. At the handover ceremony, Kim Girin, the owner of...
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There are several situations that a flat owner does not want to face. As a result, more and more people rather hire professional managers to rent their apartments. We asked Dávid Kirschner, property manager at Tower International property management company in Budapest, about his professional challenges. What was the hardest story you met? There have been many, and unfortunately there are difficult stories time after time. Sadly, this is not a unique case, but for example, a bona fide...
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By 2020 Coca-Cola's Hungarian representation plans to build Central Europe's largest production headquarter. The company recently purchased a 13-acre property as a major development. According to plans Coca-Cola Hungary will expand its capacity to provide for domestic and export markets. "We believe in our strategy of consumerism, we trust the success of our products, and we are pushing our growth program. In 2017, therefore, we invested more than ever, 6 billion forints for investments, and this...
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Airbnb services have been further tightened - this time in Budapest. Many people believe that new regulation changes are clearly measures to make Airbnb operations more difficult. The allegations have their basis. The whole affair started from the case that a constituency representative of Budapest (District 6) Lajos Oláh wanted to know if the government plans to modify the law on condominiums? He was only interested in having Airbnb service providers in condominiums mandated to provide...
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