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The developments may take place in multiple districts—including Districts XI and XV—potentially even in traditionally high-priced areas where real estate values have surged in recent years.
Challenging prevailing assumptions in the property market, the group aims to introduce a new model that combines the framework of the Home Start Program with market principles and strong cooperation with both the capital and district municipalities. The initiative is inspired by the Aspern Seestadt development in Vienna and is intended to demonstrate that affordable, quality apartments can still be built at current cost levels.
Dr. István Hüse, director of real estate development at Indotek, says the company wants to provide a credible alternative to buyers amid a market environment where persistently high housing prices continue to create obstacles. Indotek believes that the key to successful, large-scale urban development lies in public-private partnerships, and seeks to set a new example for future affordable housing projects in Hungary.
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