Budapest Fifth District Examining Property Deals

  • 13 Jan 2015 8:00 AM
Budapest Fifth District Examining Property Deals
The Fifth District council’s financial committee will begin investigating high-profile property cases today. The committee is chaired by Socialist Pál Steiner but all four other members are from Fidesz.

Steiner said he would like the open meeting to be broadcast by the district television station.

On the agenda will be the sale of a retail space at Károly körút 26 where the new owner made a profit of Ft 50 million in a year after buying the property from the district.

The district council sold two retail spaces at adjacent Károly körút 22-24 with total area of 1,500m2 for Ft 240 million, or Ft 159,000 per square metre, in the summer of 2011.

The council earlier defined the average price of retail spaces at Ft 380,000 per square metre while an appraisal estimated the per square meter value at Ft 254,000.

Source: Hungary Around the Clock

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