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November 27th, 2018

Where to Buy Your Next Property in Budapest - Five Developing Neighbourhoods

The wave of development is noticeable to anyone when walking down the streets of Budapest. Constructions, tower cranes, new buildings are emerging, but there are many new real estates in urban development plans. Below are the neighbourhoods where the most significant improvements will be observed, raising the value of the surrounding properties.


1. The surroundings of Stadionok

The developments here make it possible to conclude that a new city center is being built. Of course, these are just assumptions. In modern residential parks, about one thousand homes and the new stadium will fill the area with completely renewed nodes and structures.

Companies can choose from a large number of offices, while the renewed Papp László Sportarena and Puskás Ferenc Stadium offer a lot of entertainment to those around the area. The 6,000m2 Hungária Center and the Arena Corner office building are also located here where companies can choose between new and modern office spaces. The construction of the Arena Business Campus is about to begin, which is a 72,000 square meter office park consisting of four buildings. Renewal of Hungexpo and Syma Hall is also planned. We can expect that the value of the apartments in this area will increase in parallel with the development of the district.

 the_surroundings_of_stadionok_-_budapest_1

2. Keleti Pályaudvar (Eastern Railway Station)

The Zuglói Representative Board adopted a city plan in June this year between the Hungária körút - Kerepesi út - Ifjúság útja - Stefánia út. This plan includes the dismantling of a two-storey, unused office building over the metro stop and the development of a new 5-6 storey office and service building.

When these developments are completed, the stage between Dózsa György út, Keleti pályaudvar and the Puskás Ferenc Stadion can be much more valuable. They will also be able to use the empty parts of the railway station for office developments.

keleti_palyaudvar_-_budapest

3. Liget Budapest Project

The development of buildings in Városliget is already in progress. The public park is renewed, creating modern cultural institutions such as the New National Gallery or the House of Hungarian Music.

liget_budapest_-_budapest

4. Central Park Project, Nyugati Pályaudvar

Last year, the 9-acre area near the West End City Center was announced to become a new habitational area that the Gránit Pólus Group designs. Within the Central Park project, a total of 300,000 square meters of residential, office and retail space will be created.

The size of the developments here can be compared to the dimensions of the Corvin sétány. It is expected that this year we will be able to view the visuals and project videos that have been made on this enormous scale of innovation. This multifunctional development will be realized in the spirit of the "smart city" concept.

central_park_projekt_nyugati_palyaudvar_-_budapest

5. Millenáris Park

At the end of the works carried out by the Széllkapu project, a convergent green area can be created from the Marczibányi tér to the Fény utca, so that Millenáris has a much closer relationship with the inner city. Part of the Fény utca traffic will be landed underground through the already completed tunnel and will create underground parking for more than 500 places. The project includes the planting of 328 trees, 5407 square meters of shrubs and a 651-square-foot lake design.

A more livable environment can be of interest to employees. The Startup Campust (MSC) has been set up, with a conference room for 1,500 people waiting for startups and investors with 100 workstations, offices and meeting rooms. The MSC Community Office is one of the largest innovation entrepreneurial centers in the Central European region.

Urban development can bring a lot of surprises. In any case, it is worth thinking about where to invest in a real estate, as now we can find valuable properties in neighbourhoods that we have not thought so far.

millenaris_szellkapu_-_budapest_

 

Source:

https://www.portfolio.hu/

 

Pictures:

https://magyarepitok.hu/

https://www.shutterstock.com/

https://welovebudapest.com/

 

Interested in buying a property in Budapest?

Interested in buying a property in Budapest?

Contact us to get a tailor made investment advice from the Budapest market specialist.

 

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H-1052 Budapest, Bécsi utca 2
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