KINGS GARDEN, BUDAPEST, HUNGARY
* 30% PRE-LAUNCH DISCOUNT
* APARTMENTS FROM ONLY £34,200
* 20% DEPOSIT-ENTRY LEVEL FROM ONLY £6800
* COMPLETION 2008/2009 WITH NO FURTHER STAGE PAYMENTS
* 6% GUARANTEED RENTAL FROM THE DEVELOPER
* ASSIGNABLE CONTRACTS-SELL BEFORE COMPLETION
* GUARANTEED 80% LTV MORTGAGES
* LANDMARK DEVELOPMENT INCLUDING RETAIL,OFFICE AND RESIDENTIAL UNITS FOR THE FIRST TIME IN HUNGARY
* PRIME LOCATION 30M FROM RIVER DANUBE
* EXCELLENT CAPITAL GROWTH POTENTIAL - ESTIMATED 20-25% ANTICIPATED IN YEAR ONE
*20% CHEAPER THAN PRAGUE-ANOTHER BOUYANT MARKET
* VERY STRONG LOCAL RE-SALE AND RENTAL DEMAND
* ENTIRE PROJECT UNDERWRITTEN BY MAJOR INTERNATIONAL BANK 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 30% 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 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 image | | | Computer image |
The Plots: Listed below are the starting prices (based upon current exchange rates) for each type of apartment. As demand for this development is far higher than supply with multiple units being reserved daily we cannot guarantee which plots are still available. We can get up to date information to discuss your needs upon your initial enquiry.
The tradition of Hungarian properties is that they are not built with kitchens as new owners tend to design their own. The usual cost of furnishing a kitchen is approximately 3% of the purchase price. However we have secured a unique deal with the developer to provide a kitchen with all white goods at only approximately 1% of the purchase price.
All units come with the option of purchasing a garage which are in short supply in Budapest. These will greatly add to the value of the flats for both resale and rental. The cost is approximately £5600. | Property type | Area sq m | Prices from* | Deposit required* | | Studio | 32.86 | £34,200 | £6840+ | | 1 bed | 48.16 | £47,090 | £9418+ | | 2 bed | 64.87 | £67,520 | £13504+ | | 3 bed | 95.57 | £93,500 | £18700+ |
* Based on current exchange rates | Purchase price* | £34,200 - £93,500+ * | Pre-launch discount | 30% | | Reservation required | £2000 | Choices commission | £1762.50 - £2746.56+ | | Deposit required | 20% | Mortgage available | 80% | | Estimated cost of kitchen | 1% | Estimated garage costs* | £5700 | | Estimated legal costs | £700 | Stepped Stamp Duty levels | 0% - 2% - 6% |
* 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.
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