New shopping mall opens in dowtown Budapest in 2012

Previously the home of the Budapest Stock Exchange, this wonderful piece of property will now be “Hungary’s most beautiful shopping center” as developers claim.

The building truly is a masterpiece. Built between 1911 and 1915 based on the plans of Ignác Alpár, it was first used by the First Savings Bank of Pest, then later the Budapest Stock Exchange. The building became part of the UNESCO world heritage in 1933, and it is considered a national monument.




The building has been renovated according to the plans of Christian Biecher French architect; the works have been done by ORCO development company.




Now it will serve as a shopping center in the heart of Budapest, focusing on fashion and designer brands, but a few restaurants are rumored to be placed in the project, as well.
The property is located at the beginning of Vaci street on Vörösmarty square, the most popular pedestrian area of Budapest, where other 5 star hotels, high-end stores, the famous Gerbeaud-confectionary, and the Christmas markets can all be found.
If you'd like live around it, I happen to know a couple of luxury apartments for rent in Budapest, some them right around the area.

Home sales boosted by mortgage scheme in Hungary

As it was expected, the early repayment scheme for foreign-currency mortgages boosted Hungarian real estate sales in December last year, according to estate agency Duna House.

They say more than 8700 properties in Hungary were sold in December which is 35% more than the monthly average in 2011, and an estimated one-third of these were due to forced sales.
As the scheme allows transactions to be completed in January 2012, too, it is also expected to be a busy month for the real estate market in Hungary.
The overall home sales in Hungary for 2011 are estimated to be around 80,500, which is down more than 10% from 2010.

Via Xpatloop