Andras Cornides Interview About Budapest's Property Market
- 16 Mar 2015 12:00 AM
Where did you grow up?<br><br>
I am from Budapest. I grew up in district 9 and district 16 where we lived when I was a child.<br><br>
Have you always lived in Budapest?<br><br>
As a small child my father had an assignment in North Africa for a bit less than two years, from there I only have some memories. After this I only spent up to 5 months abroad at a time, but I had the chance to do it a few times. During the university years I spent two summers in the US doing student work and a semester in one of the universities in California, right before graduating. In 2012 I spent a few months in Florida as well looking at real estate opportunities, but at the end we decided to build the Budapest business, which looking back was a very good decision.
How long have you been in the business?
I entered the field of real estate after graduating at Corvinus University of Economics in Budapest in 2006. Since then, for the past 9 years I helped many foreign and Hungarian customers meet their property needs. Today, as a Property Consultant of Tower, with over 9 years of experience in property sales I’m passionate about finding the best properties and investment options for my clients.”
What would you say about the Budapest property market today?
I think Budapest is moving upwards strongly now. People are confident that the worst is over and the market is positively changing. This started in the summer of 2014 and will probably continue for a while. Today it is mostly local money moving the market with some foreign investment as well. Prices are definitely shifting upwards, especially but not only in premium locations. Rents are increasing as well, but I think it will not follow the property price increase, which means the rental returns will get lower.
I believe that it is a great time to buy a property in Budapest. Property prices are on the rise but still affordable. From an investment point of view the rental market in Budapest is flying with a demand for rented accommodation greater than ever. The attractive purchase prices combined with a strong rental market and the prospect for long term growth in this EU capital make Budapest the perfect Buy-to-Let property market.
Where do you market the properties you offer?
We have more than a dozen of our websites where the properties can be viewed, the most popular one is probably www.towerbudapest.com. Here our existing and future clients can get information on properties we offer for sale, for rent and our property management services. We also use other local and international portals and send regular newsletters to a large database of prospective customers.
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