Property investors and tourists turn to Hungary

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Hungary is experiencing an increase in foreign investors and visitors who are looking to take advantage of the real estate in a country which appears to have escaped the worst of the Euro crisis.

Hungary is expected to see a rise in interest from overseas property investors who could buy prime real estate for just £7,926, according to Knight Knox International, a property investment firm.

The World Travel and Tourism Council has predicted in 2012 Hungary is expected to draw in more than 9 million tourists, which compared to figures from 2011 is an increase of 2.9%.

Hungary is certainly being considered as a potentially promising investment location as the country has gained an influx of tourists and investors who want to avoid countries affected by the current issues in the eurozone.

Different properties are being sold in ideal villages located close by to Lake Balaton. Some properties are available for as little as £7,926, all of which have a minimum of 1,500sqm of land.

This gives investors the choice of making their property larger to build a villa or large family home.

Jeremy Knight, Managing Director of Knight Knox International, said: “These are some of the best mid to long-term investment opportunities we have seen this year.”

Lake Balaton is the biggest thermal lake in the world and is otherwise known as the Hungarian sea. It is located just over an hour away from Budapest and Vienna, making it a popular location.

Knight added: “The potential returns, based on the proposed development and re-generation of the area are fantastic and with prices starting at just £7,926, these properties are a prime opportunity for anyone looking to invest in Eastern Europe.”

Transferring money to Hungary

If you are looking to invest in Hungary, think carefully about how you will send money there. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are sending money to Hungary – which is probable if you are intending to make a property investment, be sure to compare the market before you buy your overseas currency.

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Property investors and tourists turn to Hungary

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