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Chinese keen to buy real estate in Hungary

The Chinese are showing a growing interest in buying real estate in Hungary. Last year 40% more Chinese were searching for apartments in Hungary than a year earlier, online news portal reports.

On the occasion of this weekʼs China-CEEC summit, looked at the evolution of the Chinese presence in Hungary. Based on figures provided by real estate site, it seems that Chinese interest in buying homes in Hungary has significantly increased.

Buyers from China are searching for apartments in Buda districts 2 and 3 in Budapest in the price range of HUF 54-80 million. In Pest, Chinese buyers are looking for somewhat cheaper homes, in the range of HUF 47-69 mln, in the areas of Zugló and districts 16 and 17.

In central Budapest, the preferred areas are districts 5 and 6, where potential Chinese buyers would be willing to spend HUF 42-78 mln, albeit mainly for investment purposes.

The number of potential Chinese buyers grew by 40% year-on-year in 2016, but is still less significant than the number of prospective buyers from Western countries. British and German buyers lead the purchase charts, their numbers growing last year by 30% and 27%, respectively. Brits and Germans are looking for real estate not only in Budapest, but also at Lake Balaton, notes.