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Archive for the ‘Budapest Property’ Category

Hungary Property Grand Prix

by OP-Mall on Monday, August 4th, 2008 in Budapest Property, Hungarian Property

heikki-kovalainen | credits:p_c_w(flickr)

Sunday’s Grand Prix in Hungary certainly wasn’t short of surprising events. The race started out uneventful. Massa was leading the field, followed by Lewis Hamilton and Heikki Kovalainen in third.

Disaster struck for Massa though when he suddenly lost a seemingly clear home run due to engine failure only three laps from the closing line. Hamilton also had to bite his tongue when he had a front left care tyre damage which dropped him from second to 10th.

As they say, one man’s misfortune is another man’s luck. The lucky receiver of 1st place in Hungary was McLaren’s Heikki Kovalainen who clearly drove a fantastic race in a strong car.

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Eastern Europe: Is the City Centre Market Coming of Age?

by Overseas Property Mall on Wednesday, August 1st, 2007 in Baltics Property, Budapest Property, Bulgarian Property, Croatia Property, Czech Property, Eastern European Property, Estonia Property, Hungarian Property, Latvia Property, Montenegro Property, Poland Property, Property Investment Strategies, Romanian Property, Russia Property

Kiev-Ukraine
Kiev Ukraine – Place de l’Indépendance [Photo credits to Panoramas on Flickr]

Some might ask if ‘coming of age’ was a good thing as far as property investors are concerned; the answer is probably ‘yes’. Ewan McGarrie of propertyinvestment.co.uk recently described the East European city centre market as ‘large and stable’ and particularly highlighted Budapest as a stable residential market with good capital appreciation prospects. Yesterday we juxtaposed the possibilities of much smaller Zagreb with Croatia’s Adriatic coastline and made the point that Zagreb, as the capital city, is drawing in the country’s professional ‘cadres’. However, there is a bigger story to tell in the dynamic economic prospects of Eastern Europe, which have been largely overshadowed by commentators concentrating on the BRIC (Brazil, Russia, India, China) economies. Unlike Russia and China, East European businesses are well placed for attracting the profitable, well-paid (development and marketing) ends of the “smiley curve” as well as the less remunerative manufacturing.

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Plans for Budapest’s Tallest Building

by Overseas Property Mall on Monday, October 30th, 2006 in Budapest Property, Hungarian Property

Austrian based Raiffeisen International Bank AG is planning on building a 110-meter (361 feet) building in north Budapest making it 14 meters higher than the Hungarian capital’s Parliament and St. Stephen’s cathedral, which are currently the tallest buildings in Budapest.

The complex will also include smaller buildings for residential and retail use, as well as offices for rent. The building is due to be completed by 2009 and will house 1,500 of Raiffeisen International Bank’s 3,700 Budapest based workers. The complex will have total floor space of 60,000 square meters (645,835 square feet) with a projected construction cost of about $134 million.

The building’s design have not yet been released by the architects as the ultimate building height still needs a special permit. Raiffeisen’s property unit currently manages about $862m worth of real estate making it control about 25% Hungary’s real estate market.

[Read the press release here]
[Architect website - Finta Studio]

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