Since acceding to the European Union in 2004, foreign investment in Hungary has been increasing. It remains to be seen what the long term impact of Hungarian prime minister Ferenc Gyurcsany's statement in September 2006 about the Hungarian economy will have on the property market in Hungary. It seems prudent to exercise caution for the time being.
Hungary is mostly flat with rolling plains and a low mountainous region in the north. The flat plains are very fertile with dark, rich soil, the summers are warm and the winters are humid. Although Hungary is landlocked, there is a strong tradition of bathing - it is home to Europe's largest freshwater lake, Lake Balaton, and has a profusion of thermal springs.
Hungary's medieval and renaissance gardens suffered from the Mongol and Turkish invasions. After 1686, Hungary came under Austrian influence and a famous baroque garden was made at Esterhaza.
The property market in Hungary moves quickly, particularly in Budapest, so it is important to do your homework in advance so when you find the right property you are in a position to act quickly. This should help to avoid the pitfalls of loosing the property to another buyer or becoming involved in a bidding war resulting in having to pay a higher price.
Fluent English is widely spoken by the locals.
The River Danube runs through the capital, Budapest, dividing the city into its two halves - Buda and Pest. As with many cities, residential real estate in the centre is in the form of apartments so buyers seeking properties with gardens should focus their search in the suberbs.
Lake Balaton is 80 kms southwest of Budapest. The waters of the lake are very popular with swimmers as they are warm and shallow. Tourism is more concentrated on the south coast of the lake. The northen coast is more peaceful and extremely scenic.
Castle in Budapest