Cordia starts selling 300 more homes in Budapest
Residential property developer Cordia decided to add more than 300 new homes to its Budapest supply by the end of the year, according to a press release sent to the Budapest Business Journal.
The projects, totaling more than 26,300 sqm of gross floor area, will be developed in three districts of Budapest: the i6 Residence near Corvin Promenade in District VIII, the Millennium Residence in the urban regeneration area of District IX, and Naphegy12 condominium in the prestigious central area of the Buda side of the capital, next to Buda Castle.
Together with these new developments, there are more than 800 homes are available in Cordia’s portfolio, which means that the company now accounts for 12% of the Hungarian capital's total new home supply, or one in eight new homes. The projects will increase the total supply of new homes in District VIII by 35%, and the supply in District IX by 13%. In District I, the project of Cordia essentially represents the total supply of new homes, with only two new builds available in other developments.
A common feature of Cordia's developments is that the National Bank of Hungary’s Green Home Loan, which helps people to buy energy-efficient homes, is available for the purchase of these apartments. All of these buildings have landscaped internal gardens, so ground floor apartments have garden connections while upstairs homes have spacious balconies.
"We have crowned a record year for Cordia this year by putting on sale a further 300+ homes in the final month of the year. This year, we will deliver around 1,500 homes in the Hungarian market, an increase of over 50% compared to 2020 and three times the 2019 performance. In addition, the year as a whole will see the sale of nearly 1,000 homes on the domestic market, almost triple last year's figure. Currently, we have more than 1,300 homes under construction in Budapest, with another 4,600 homes in the pipeline," said Tibor Földi, chairman of the Board of Cordia International.
The special feature of the 109-home Millennium Residence is that its area, Millennium Quarter is about to undergo a complete renewal similar to the Corvin Quarter in District VIII. The i6 Residence, consisting of 162 apartments, is being built in the vicinity of the aforementioned Corvin Quarter and the international award winner Corvin Promenade, also developed by Cordia and Futureal. Naphegy12, with only 44 apartments, is located in a quiet side street next to the Buda Castle district and Tabán Quarter, and won the "Planned Residential Project of the Year" award in the iroda.hu competition in 2020.
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