Duna House expanded its First Hungarian Residential Property Fund portfolio at the beginning of June by buying new apartments in downtown Budapest, according to a press release sent to the Budapest Business Journal.
The 11 purchased apartments are located at Central Passage, Király utca, near Gozsdu Udvar. In concluding the HUF 677 million deal, the residential property fund is now worth more than HUF 4 billion.
Thanks to the 96% occupancy rate of the portfolioʼs 94 apartments, the achievable annual returns are as high as 9.1% through financial products, the company says.
The 11 new additions were purchased from a Spanish investment company. Apartment sizes vary between 36 sqm and 99 sqm.
"We are constantly striving to develop our real estate portfolio; the recently purchased downtown apartments fit our business policies perfectly with their promise of very good returns," says Angelika Czeiler-Fóris, CEO of Impact Alapkezelő Zrt.
"Investors may now find almost 100 apartments in the First Hungarian Residential Property Fund which will bring them returns through the growth of their value and utilization."