With the property market picture still very confused in the major western European countries, investors are increasingly looking towards the eastern side of the continent.
Although Google searches for property in Hungary are reported to have fallen in the last twelve months, suggesting buyers are still cautious, “property for sale in Hungary” and “houses for sale in Hungary” are still popular terms being entered by users of the search engine.
On property specific web portal TheMoveChannel.com, data recently released has shown that the country’s capital of Budapest is the most popular destination of interest, accounting for 38% of all Hungarian property searches made through the service.
Budapest is of course the most well known city in the country and therefore there is an argument that anyone expressing a general interest about investing in property there will enter the name as an initial search to get a general idea of prices.
Many interested parties also specifically search for well known areas in the city itself. Budapest District V, District VII and District VI are all popular search terms.
However, with prices offering a competitive level of attraction, other areas of the country are seeing increased interest from overseas buyers.
Heves is the region famous for its therapeutic hot springs, has several resorts based around these and has proven popular with increasing numbers of visitors to the country in recent years. Heves apparently accounts for just under a quarter of all Hungarian enquiries.
Somogy is the third favourite region, with Karad and Siofok both appearing in the top 10 most searched-for destinations, together accounting for just over 6% of all searches. The picturesque Lake Balaton provides a great part of the appeal and is a favourite destination for Russia's expanding middle classes.
If you are looking to invest in Hungary it is worth thinking carefully about how you will send money internationally. By comparing the currency exchange market beforehand you can get the best deal when it comes to transferring money abroad.