Choices Acquisitions and Investments: 01342 840050

FOREIGN INVESTMENT OPPORTUNITY

Kings Gardens, Budapest, Hungary

Introduction:

Choices have identified this out-standing city centre development in Budapest, Hungary. Due to the current demand the  development is already scheduled for a 5% price increase within the next seven days. As a further enhancement the opportunity to buy at a 14.6% pre-launch discount. We believe this is a fantastic investment vehicle which would be a tremendous addition to any property portfolio.

Situated in Budapest, dubbed the "Paris of the East" this highly anticipated development will be the first complex of its kind to be built in Hungary. Containing a mixture of modern residential, retail and office units this landmark development will provide everything required to attract the foreign investor. 

With only a 20% deposit required for exchange, no further stage payments and a guaranteed 80% LTV mortgage these excellent investment opportunities are within the reach of any investor.

The entire development has been under-written by an Italian bank and offers the protection above the normal bank guarantees that developers usually secure.

The developer is also able to offer a further financial incentive with a 6% guaranteed rental to provide further assurance to the buy to let investor.

The residential market in Budapest is also currently experiencing strong demand. This will be very attractive to any investors who wish to sell their property after completion. Most of the apartments in the area are large Soviet built tenement buildings which require massive overhaul. Residents receive up to a 10% grant to aid them in purchasing and there is a huge demand for new contemporary apartments.

The complex will provide a excellent boost to the local employment market with the creation of approximately 8000 new jobs as well as providing new services to around 350,000 local residents.

Due Diligence:

We have prepared a detailed report on Budapest and Hungary which is available on request and this includes further information on:

1. The Hungarian Property market
2. Tax Regimes
3. Economic, environmental, social/political and demographic factors
4. Mortgaging and legal information for foreign nationals

The Development:

The development consists of 900 residential units, released in two phases, with a range of studio,1, 2 and 3 bedroomed apartments. 

The apartments are orientated to either the South East or South West to provide maximum natural light for the terraces of each unit. The apartments have views of the River Danube and the Buda Hills.

The development will include a 3,000 sqm fitness area with swimming pool, gym and spa. The nearest station is only 400m away.

The development will have 55,000 sqm of office space and a further 10,000 sqm retail space including four star hotel, university departments , banks, restaurants and shops. This will provide jobs for approximately 8,000 workers and services for around 350,000 people in the locality. 

 

Computer Images

Based on current exchange rates.                                                 
                                                     

Timescales:

The developer requires a £2000 reservation fee to reserve each unit. Draft contracts are produced in two weeks and contracts finalised in four weeks. The 20% deposit is required within the four weeks of reservation for exchange and your £2000 reservation fee is returned to you at the point of exchange.

Mortgage Quote:

The developers are offering a unique guaranteed 80% LTV mortgage for the apartments in the Kings Gardens development. Details and conditions available upon request.

Before providing a mortgage example we believe your individual circumstances need to be taken into account, we would be therefore be delighted to provide you with a personalized illustration on request.
Please Note: Choices Retained Clients are given prior notification of all distress sale property. Thereafter all properties will be offered to other subscribers and subject to general marketing.
Notes: This report is intended for guidance only. All figures are approximate and pro-visionary. The refurbishment/furnishings specification may change. Mortgages are subject to status and availability. Choices Acquisitions do not guarantee rental incomes or post refurbishment values in any way. The value of property can decrease as well as increase. Rental income can decrease and void periods may occur

Agents notes: These details are for guidance purposes only and should not be relied upon as factual and do not form any part of any contract and their accuracy cannot be guaranteed.
Please note that no appliances or systems have been tested. Unless advised, no warranty as to condition or suitability is confirmed. Purchasers are advised to obtain verification from their Surveyor/ Solicitor.
Please Note: Commission will be also paid to Choices by the Developer
Risk Assessment:

Based on the information supplied to us by the developer and/or their agents we believe this project represents an outstanding overseas investment opportunity however we need to draw your attention to the following crucial provisos.

By their nature overseas developments are riskier than buying UK property for several reasons including but not limited to.

• The Legal framework; this will be less familiar than the UK and may involve unfamiliar rules and bureaucracy which could throw up problems relating to title and taxation.
• Difficulties in assessing the competence and track record of foreign developers and following a money trail for deposits and stage payments
• Unfamiliar planning considerations
• Variable local labor markets
• Unforeseen delays and cost increases

Yours sincerely

Choices Acquisitions and Investments
01342 840000