Hungary: something new for investors

Sunday, July 21, 2013

Hungary: something new for investors

Why invest in Hungary rather than Spain or Portugal?
Well being a land-locked country in Central Europe, Hungary can't offer beaches but for the investor there are some economic incentives.

It's a high-income country with a stable economy, and healthy tourism: it already has 10.3 million visitors every year and the returns for investors compare with some of the best.

It's also famed for its thermal water cave system, the second largest thermal lake in the world (Lake Heviz) and the stunning Lake Balaton, which is all relevant to an interesting new development of which we bring you news.

Saloc Spa & Golf Resort in the Eger region - an hour from Budapest - broke ground to begin building what is promised to be one of the most interesting developments of its kind, according to Jean Liggett of Properties of the World.

"Its main attraction is its natural calcium thermal spa waters - said to be one of the best medicinal waters in the world. The Hungarian Government has designated Saloc as a development of 'national significance'," she says.

There are one-bed hotel suites and family suites at £89,950 and £140,000 respectively - aimed at both investors and lifestyle purchasers.

For lifestyle purchasers rather fond of spas, it's only a 2.5 hour flight from the UK and low-cost flights make it an affordable hop. It's a year-round location offering tennis, equestrian, football academy, children's facilities, golf and vineyards.

For investors, returns are promised at 10 per cent pa with a 125 per cent buy-back option in year 10.

As a benchmark, Saliris Spa Hotel next door achieved 70 per cent occupancy rates in just over 2.5 years of trading.

Hungary has been building its tourism market for many years now, promoting its architecture, food and wine, countryside and thermal spas. Incidentally, the Royal Wedding breakfast two years ago included wine from Eger.

There are no buying costs or taxes as the development company is British, but investors should seek independent advice, suggests Liggett.

See more images and information about the properties here.

Get help buying a property in Hungary

Properties of the world will be exhibiting at A Place in the Sun Live at the NEC Birmingham on 27th-29th September, where you can meet them and find out more about the properties they have for sale.

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