property: countryside
March 12, 2010, 09:46 CET
Balaton Development Council head resigns as coordinator of racetrack project
Tamas Suchman, head of the Balaton Development Council, told public radio MR1 on Thursday that he was resigning from coordinating the construction of a MotoGP motorcycle racetrack near the lake over accusations surrounding the project. "I do not want to... [read complete entry]
March 11, 2010, 09:33 CET
State infrastructure company issues tender for building of roads to race track
Hungary's National Infrastructure Development Company (NIF) has issued a tender for construction of roads necessary to reach a planned MotoGP motorcycle track in the village of Savoly near Lake Balaton, the latest issue of the Public Procurement Gazette reveals. The... [read complete entry]
March 09, 2010, 09:45 CET
Foreign shoppers said streaming to outlet mall in Eastern Hungary
An outlet mall opened in 2008 near the eastern Hungarian city of Polgár is proving very popular with shoppers, including thousands from neighboring Ukraine, Romania and Slovakia, writes ingatlanhirek.hu. The mall, which opened in 2008, had 600,000-700,000 customers last year,... [read complete entry]
March 09, 2010, 09:37 CET
Residential units edge up in size in Budapest; stall in countryside
The average size of residential units in Budapest remained unchanged from 2008 to 2009 - at 67 square meters - while over the same period the size of properties in surrounding Pest county grew by 3%, to 103 sqm, napi.hu... [read complete entry]
March 09, 2010, 09:37 CET
MFB to sign MotoGP track credit contract only if all conditions in order
The Hungarian Development Bank (MFB) will sign the HUF 15.3bn (EUR 57.58m) credit contract for the planned motorcycle racetrack near Lake Balaton if all conditions regarding the credit and the collaterals are in order as judged by the bank and... [read complete entry]
March 08, 2010, 09:46 CET
Hotelier inaugurates Ft 700 million conversion in Hungarian resort town
Hotelier Erno Lengyel on Friday inaugurated another luxury hotel in the resort town of Balatonfured. The hotel is in a 120-year-old listed building converted at a cost of HUF 700m. European Union covered HUF 115m of the cost of the... [read complete entry]
March 08, 2010, 09:45 CET
Mórahalom local council, business partners to build Ft 2.5 billion four-star hotel
The local council of Morahalom (S Hungary), together with business partners, plans to build a four-star hotel for HUF 2.5bn, supported by HUF 512m in European Union funding, mayor Zoltan Nogradi said on Friday. The state-owned Hungarian Development Bank (MFB)... [read complete entry]
March 08, 2010, 09:42 CET
Next gov't would extend moratorium on farmland purchases by foreigners
Hungary's next government will apply to the European Union for an extension of the moratorium on purchases of farmland by foreigners, chairman of Parliament's agricultural committee Sandor Font, a member of opposition Fidesz, which is tipped to win general elections... [read complete entry]
March 02, 2010, 09:24 CET
MotoGP track investors deny state-back loan is subsidy
A group of investors building a MotoGP motorcycle racetrack near Lake Balaton has said a HUF 15.3bn loan from the state-owned Hungarian Development Bank is being granted project company Savoly Motorcentrum Fejleszto under market conditions, and a HUF 20bn state... [read complete entry]
March 01, 2010, 09:48 CET
PM asks for impact study of MotoGP racetrack to be made public
Prime Minister Gordon Bajnai asked the economy minister on Friday afternoon to take immediate measures to see that an impact study of a planned motorcycle racetrack near Lake Balaton is made public as soon as possible. The request followed a... [read complete entry]
February 23, 2010, 09:38 CET
E Hungary university launches €18.4 million upgrade
The University of Debrecen has launched three development projects using a budget of nearly 5 billion forints (EUR 18.4m), mostly in European Union funds. Head of the university Laszlo Fesus and Gyula Szucs, CEO of Hunep Universal signed the general... [read complete entry]
February 22, 2010, 10:21 CET
SCD says it has no contract to operate Balaton airport
SCD Group made the best offer in a tender to operate an airport in Sarmellek, but a contract on the matter has not yet been signed, the property developer told MTI on Friday, reacting to press reports. Balaton Development Council... [read complete entry]
February 17, 2010, 10:40 CET
Dutch-owned investor to build Ft 7 billion hotel in SW Hungary
Dutch-owned Hungarian company Grontmij Canor plans to build a HUF 7bn, four-star hotel in Siklos (SW Hungary), regional daily Uj Dunantuli Naplo reported on Tuesday. Grontmij Canor has bought a plot for the hotel for HUF 120m from the local... [read complete entry]
February 16, 2010, 09:22 CET
Hungarian MPs favor ban on sale of farmland to foreigners
Parliament yesterday approved a resolution calling on the government to get the EU to extend a ban on the purchase of land by foreigners for another three years. The current moratorium will end in 2011. All MPs with the exception... [read complete entry]
February 12, 2010, 10:47 CET
Former Roma community house sold off for price of plot
A former Roma community house in Szeged has deteriorated to such an extent that it is being offered for sale as land for Ft 20 million (roughly €73,000), local daily Délmagyar reports. The Amaro Kher ("Our House") community center has... [read complete entry]
February 11, 2010, 09:41 CET
Hungarian gov't to extend land sale moratorium for foreigners
The cabinet will extend the moratorium banning foreigners from purchasing land in Hungary by three years, to 2014, if it is supported by the EU, Agriculture Minister József Gráf told MTI-Eco on Wednesday. Gráf said cheap land prices and a... [read complete entry]
February 05, 2010, 10:44 CET
Socialist says ban on land sales to foreigners should continue
Socialist party prime-minister candidate Attila Mesterhazy said on Thursday that he had asked the Hungarian government to lobby for an extension of the suspension of farmland purchases by foreigners. Mesterhazy, who is urging a three-year extension beyond May 2011, said... [read complete entry]
February 02, 2010, 09:00 CET
Prices of "panel" flats seen falling up to 20%
Prices of "panel" apartments fell 10-15% in the West Hungary town of Győr and 20% in Sopron compared to 2008, reports napiingatlan.hu. In the county seat of Győr, the price of one square meter is between Ft 130,000 and Ft... [read complete entry]
February 01, 2010, 10:41 CET
Hungary's farmland expected to become pricier when buyer restrictions expire
The price of farmland in Hungary is expected to shoot up in the spring of 2011 when the suspension of land purchases by foreigners expires, business daily Vilaggazdasag said on Monday. Experts told the paper that it is highly unlikely... [read complete entry]
February 01, 2010, 10:38 CET
Lights out for landmark countryside hotel - literally
It seems that a famous name and a central location isn't quite enough to guarantee success in the hotel business in the Hungarian countryside. According to a report in local daily Hajdú-bihari Napló via privatbankar.hu, last Thursday electricity provider E.ON... [read complete entry]
January 26, 2010, 09:45 CET
Ft 1 billion hussar-themed hotel inaugurated in Debrecen
Businessman Jozsef Boros on Monday inaugurated a more than HUF 1bn, four-star, hussar-themed hotel in Debrecen (E Hungary). The 40-room, five-suite hotel was built with HUF 211m in European Union and state support, Mr Boros said. The hotel is home... [read complete entry]
January 25, 2010, 04:34 CET
New Szeged University building to use cutting edge eco-friendly technology
A new building belonging to Szeged University's Engineering Department will employ the most up-to-date technological advances which students can study and observe, delmagyar.hu reports. In terms of examples, the windows will be able to absorb and store sunlight in winter;... [read complete entry]
January 19, 2010, 09:50 CET
Inquiry committee set up to investigate Pécs Expo Center case
The government of the Southern city of Pécs has set up an inquiry committee to investigate irregularities during the construction of the Expo Center events hall, opened in 2006. According to bama.hu, the committee was set up because suspicion had... [read complete entry]
January 13, 2010, 12:16 CET
Hungary's "adventure baths" struggling with financial trouble
Several élményfürdők ("adventure baths") in Hungary owe millions of forints and are underused, writes Népszava. Most recently, electricity was switched off at Esztergom's Aquasziget due to a debt of Ft 70 million (over €260,000), while the government of the lakeside... [read complete entry]
January 13, 2010, 10:31 CET
Merkbau wins tender to build pilgrim house at Pannonhalma abbey
Merkbau Epitoipari es Kereskedelmi has won a tender to build a pilgrims house at the Archabbey of Pannonhalma with a bid of net HUF 283m, the latest issue of the Public Procurement Gazette shows. Merkbau beat five other bidders in... [read complete entry]
January 06, 2010, 02:05 CET
Gov't designates planned Chinese €455m airport investment "priority project"
The government has made a planned EUR 455m investment by a Chinese-owned company at the Vat-Porpac Airport (NW Hungary) a "priority project", accelerating the process of applying for permits, the latest issue of official gazette Magyar Kozlony reveals. Chinese-owned Sia-Port... [read complete entry]
January 05, 2010, 08:48 CET
OTP Ingatlan building residential blocks in Siófok and Veszprém
OTP Ingatlanbefektetési Alap is building residential blocks at 59 Beszédes József sétány, Siófok, on a 5,000-square-meter lot, reports vg.hu. One of the four-story buildings will comprise 27 flats, while the other 29. In their yard, 56 parking spaces and 34... [read complete entry]
January 05, 2010, 08:45 CET
Best Western hotel to be built at thermal baths in Pápa
"K+F" PANNON Hotel Projekt Kft is currently developing a hotel in the west Hungarian town of Pápa, writes vg.hu. The 130-room hotel will be built within two years next to the town's thermal baths on a 10,000-square-meter lot. The new... [read complete entry]
December 23, 2009, 10:13 CET
German investor plans to build hotel, water park in southern Hungary
A German investor is planning to build a HUF 2bn (EUR 7.26m) hotel and water park in Kozarmisleny (S Hungary), the daily Uj Dunantuli Naplo reported on Tuesday. The investor has signed a contract with the town's local council to... [read complete entry]
December 22, 2009, 08:51 CET
Miskolc hotel gets new Ft 330 million wing
A new, HUF 330m (EUR 1.2m) wing opened on Monday at the four-star City Hotel in Miskolc (NE Hungary), owner Istvan Barkoczi reported on Monday. The wing, which won a tender for HUF 130m in European Union regional-development funding, contains... [read complete entry]
December 15, 2009, 09:08 CET
Village near Budapest to hold referendum on planned golf course/hotel complex
The Pest County village of Páty (pop.: 6,578) will hold a referendum - likely on February 14, 2010 - about plans by Grupo Milton Management Zrt to build a golf course, thermal hotel, apartments and education center, writes vg.hu. József... [read complete entry]
December 01, 2009, 09:10 CET
Investigation to continue into cut-price sale of Pécs real estate
Police have been ordered by the prosecutor's office to continue their investigation into the cut-price sale of real estate by the Pécs asset management agency, writes local news portal bama.hu. The predecessor of today's Pécs Holding Zrt., the Pécs Municipal... [read complete entry]
November 20, 2009, 10:38 CET
Former Taszár military airbase sold to UK and Mideast investors
Ugarde Kereskedelmi, owned by UK and Middle Eastern interests, has won the tender to operate the Taszár airbase, with a Ft 1 billion bid. The winners promise to spend Ft 0.7-1.8 billion on environmental clean-up costs, prime ministerial commissioner István... [read complete entry]
November 11, 2009, 10:44 CET
Operator of FlyBalaton airport put into liquidation
Cape Clear Aviation, the company which operates FlyBalaton airport in Sarmellek (SW Hungary), has been ordered under liquidation by the Zala County Court, the court told MTI on Tuesday. Cape Clear Aviation spokesman Arpad Beznicza said Vectigalis would be the... [read complete entry]
October 27, 2009, 09:30 CET
Parliament green lights probe of casino project
Parliament yesterday unanimously passed a draft resolution on establishing a House commission to probe the planned Sukoró casino project. MPs cast 361 affirmative votes for the Fidesz-initiated proposal. It will examine how the National Asset Manager calculated the value of... [read complete entry]
October 21, 2009, 11:10 CET
Lack of outrage continues as Russians continue to buy up Southwest Hungary
Back in May we published a brief story about how Russians were buying up lots of properties down in Zala County. For whatever reason, the post drew none of the usual "buy up your own damn country!" comments we tend... [read complete entry]
October 16, 2009, 12:40 CET
Mayor of southeast town offers historic castle for Ft 1
Gyula's Almásy Castle, unused for a decade, will be given to anyone who agrees to renovate it for the token sum of Ft 1, Mayor Klára Perjési announced at a press conference on October 13. According to local portal beol.hu,... [read complete entry]
October 15, 2009, 10:24 CET
State asset manager seeks to reverse dubious casino-related property swap
Hungary's National Asset Management Company (MNV) will start talks with the aim to revert a land exchange related with a planned large casino project, MNV said on Wednesday. MNV spokesman Zsolt Zicherman said MNV is seeking to annul the land... [read complete entry]
October 14, 2009, 02:10 CET
Cheap real estate drawing Slovak commuters to Hungary
Ever since the Schengen border treaty opened up Hungary to neighboring European Union countries in 2008, villages near Bratislava have been experiencing a sharp increase in demand for real estate, writes index.hu. This year condominiums and peasant homes are most... [read complete entry]
October 12, 2009, 09:48 CET
FlyBalaton airport closed as municipal owner seeks new operator
FlyBalaton airport in Sármellék closed down for an indefinite period on Saturday, CEO Attila Benkõ announced. The airport at the western end of Lake Balaton will not reopen until an agreement is reached with new operators, with whom talks are... [read complete entry]
September 11, 2009, 11:35 CET
Investors to open 260-hectare business park in Pécs next month
Private investors plan to open a 260-hectare business park south of Pecs (SW Hungary) on schedule by the end of October, the attorney for project company IPP-Airport Invest Krisztina Fulop told MTI on Thursday. The project will become Hungary's biggest... [read complete entry]
August 31, 2009, 11:03 CET
Moto GP track turbo-charges property prices in tiny village
The prices of real estate in the Somogy county village of Sávoly (pop.: 600) has grown 20-fold since construction of the Moto GP track has begun, RTL Klub reports. Unemployment is a thing of the past, and the whole settlement... [read complete entry]
August 26, 2009, 11:07 CET
Property rental prices squeezed across the board
Although the property market has been hit hard by the recession, the market of for-rent apartments has livened up in Budapest and Hungary's major university towns thanks to students, writes napi.hu. However, as a mark of the lack of demand,... [read complete entry]
August 12, 2009, 11:09 CET
Korean company seeks site in Hungary for LCD display plant
Korea's NexDisplay is looking for a site in Zala County, Hungary, to build a EUR 15m LCD display plant, local daily Zalai Hirlap reported on Tuesday. NexDisplay is considering four industrial parks in the area around Nagykanizsa and Zalaegerszeg (SW... [read complete entry]
July 30, 2009, 10:16 CET
Contract signed for Ft 3.8 billion "knowledge center" in Pécs
General contractor Gropius and officials from the Baranya County Local Council and University of Pecs on Wednesday signed a contract on the construction of a HUF 3.8bn regional library, one of the main projects for the Pecs 2010 European Capital... [read complete entry]
July 28, 2009, 12:20 CET
Investors in Hungarian golf courses facing fight for financial survival
Hungarian and foreign investors have invested billions of forints in golf courses in Hungary which now fight for survival, the daily Nepszabadsag said on Tuesday. "Operating a golf-course is indeed a risky business in Hungary," the deputy director of Polus... [read complete entry]
July 27, 2009, 09:49 CET
Broker says rents for flats in university towns dropping across Hungary
Rents for flats in Budapest and other university towns around Hungary are down 5-15pc as students start to sign contracts for living accommodations before the start of the autumn term, Duna House real estate broker told MTI. The average rent... [read complete entry]
July 24, 2009, 10:20 CET
State subsidies, bank to help finance four-star hotel in Hódmezővásárhely
SK SAS Projekt Ingatlanhasznosito es Fejlestzo plans to build a HUF 1.3bn four-start hotel in the centre of Hodemezovasarhely (SE Hungary) with the support of HUF 377m in development funding from the Southern Great Plain Operative Programme, managing director Ervin... [read complete entry]
July 21, 2009, 09:14 CET
Big Balaton developer launches branding campaign for region
GreenField Consulting will be running the branding campaign on the Balaton Development Program, a scheme recently announced by SCD Group and Quinlan Private Group to promote their upcoming large-scale property development projects in the Balaton area. According to epulettar.hu, the... [read complete entry]
July 13, 2009, 11:06 CET
Cornerstone laid for new industrial park in Northeast Hungary
The cornerstone for a HUF 1bn, 18-hectare industrial park was laid in Baktaloranthaza (NE Hungary) on Friday. The park is to be built on the site of an old 8-hectare wood processing plant and expanded by a further 10 hectares,... [read complete entry]
July 09, 2009, 10:02 CET
Gov't announces big tenders for Balaton tourism developments
Tenders worth a combined HUF 4.25bn for tourism developments in the area around Lake Balaton in 2009-2010 were announced on Wednesday. The tenders, part of the regional operative programme, aim to create products and services in line with tourists' demands,... [read complete entry]
July 07, 2009, 09:05 CET
Ft 600 million spa complex opens in Southwest Hungary
Hungary's Toma Bau has inaugurated a more than HUF 600m spa and swimming pool at the Martfu Health and Recreation Centre in southeast Hungary, bringing the company's total investments at the centre to more than HUF 1.5bn, Toma Bau CEO... [read complete entry]
June 19, 2009, 11:32 CET
Building license for long-delayed "Euro Vegas" project said imminent
Hungarian authorities are expected to issue a building licence for a large development project dubbed Euro Vegas near the Austrian border in north-west Hungary within the next few weeks, business daily Napi Gazdasag reported on Friday. Local council officials in... [read complete entry]
June 11, 2009, 08:20 CET
Historic building in Sopron to become large four-star hotel
MH Scarbantia Hotel and the local council of Sopron on Wednesday signed an agreement to cooperate on the company's plans to spend HUF 6bn-8bn to transform a historic building in the city into a four-star, 400-room hotel. The project is... [read complete entry]
June 11, 2009, 07:57 CET
Győr calls new tender for local airport following first-round failure
The Hungarian city of Gyor has called another tender for its airport after the first failed to attract any bidders, the local council told MTI on Tuesday. The deadline for bidding in the first round of the two-round tender is... [read complete entry]
May 26, 2009, 09:42 CET
Former Communist Party resort to get luxury makeover
Plans are afoot for the rehabilitation and development of a former Communist party resort in Balatonvilágos, reports Napi Gazdaság. The developer, Pro-Mot Kft, acquired Club Aliga in early 2007 and is now drawing up the blueprints for a €300 million... [read complete entry]
May 26, 2009, 09:16 CET
New €25 million shopping mall to open in Győr
A new mall named Dunacenter Powershopping is set to open in the west Hungarian city of Győr this fall, reports business dailiy Világgazdaság. The €25 million shopping facility will sit on a 46,000-sqm area and offer 17,000 sqm of rentable... [read complete entry]
May 19, 2009, 09:45 CET
Russian holiday homebuyers flock to Hungarian spa towns
Zala county and its numerous spa towns are becoming an increasingly popular target of Russian home buyers, who are snapping up properties in the area like never before, Világgazdaság reports. The most favored towns are Hévíz, Gyenesdiás, Vonyarcvashegy and Zalakaros,... [read complete entry]
May 18, 2009, 10:12 CET
German-owned developer starts work on Ft 1 billion industrial park
German-owned Harom Cserje Ingatlanfejleszto on Friday laid the cornerstone for a HUF 1bn industrial park at the end of the M3 motorway, in Nagykallo (NE Hungary). The project will be supported with a HUF 500m grant from the Northern Great... [read complete entry]
May 11, 2009, 09:53 CET
President announces opposition to logistics airfield in West Hungary
President Laszlo Solyom on Sunday said he agreed with those who oppose the conversion of a former military airbase into an international base in W Hungary, where he toured a natural reserve area under his green project. On the first... [read complete entry]
April 27, 2009, 07:22 CET
Three bids in for former military airbase
Three investors, both domestic and foreign, have submitted bids in a tender for the use of Hungary's Taszar airbase, government commissioner in charge of the sale Istvan Kolber told MTI on Friday, the deadline for bidding.... [read complete entry]
April 20, 2009, 08:54 CET
Big residential development to be completed in Szeged in August
Real Hungary will complete a HUF 4.5bn office and residential complex on the banks of the Tisza River in Szeged (SE Hungary) in August, sales manager Jozsef Lobozar.... [read complete entry]
April 03, 2009, 09:40 CET
Austrian-owned shopping center opens in Kaposvár
Center Invest, owned by private Austrian investors, on Thursday inaugurated a HUF 7.5bn shopping centre in Kaposvar (SW Hungary).... [read complete entry]
February 24, 2009, 09:51 CET
First Casaro "mini-mall" to be unveiled in Tiszaújváros
Less than a year after laying the foundation stone, developer Casaro Hungary is scheduled to unveil its first Piramis Center mini mall in Tiszaújváros, east Hungary this week, reports resourceinfo.hu.... [read complete entry]
February 11, 2009, 01:17 CET
Int'l investment group to build €1.5 billion tourism complex near Lake Velence
An investment group composed of U.S., Israeli, German and Hungarian entrepreneurs is planning to build a EUR 1.5bn tourist complex on a 70-hectare site located on the outskirts of Sukoro (C Hungary) near Lake Velence, the daily newspaper Nepszabadsag reported... [read complete entry]
February 10, 2009, 08:55 CET
Novel industrial and "innovation" park to open in Eastern Hungary
DBH Group, a Dutch-Hungarian company that offers complex business services and manages several international investment projects, is building a "serviced" innovation and industrial complex in Felsőzsolca Industrial Park, east of Miskolc, Ingatlanhírek.hu reports.... [read complete entry]
February 04, 2009, 10:57 CET
Developer of big Lake Balaton property projects says weathering storm
Hungarian property developer SCD Group and Ireland's Quinlan Private are not changing the goals of projects around Lake Balaton, but some investments are expected to start later than expected because of changed financing conditions, SCD Group communications director Peter Elkan... [read complete entry]
January 23, 2009, 11:04 CET
Town of Hatvan may halve local business tax in bid to draw investors
The town of Hatvan is planning to halve the local business tax from 1.9% to 1% from 2010 to help companies during the economic crisis, mayor Zsolt Érsek announced.... [read complete entry]
January 21, 2009, 10:44 CET
Germany's ECE to break ground on €130 million Szeged shopping center
German property developer ECE plans to start construction of a EUR 130m-140m shopping centre in the Hungarian city of Szeged in mid-2009, Christoph Augustin, managing director of project company Einkaufs-Center Szeged, said at a press conference on Tuesday.... [read complete entry]
January 08, 2009, 03:43 CET
Ft 6 billion tender for "European Capital of Culture" project declared invalid
The local council of Pecs (SW Hungary) has declared a tender to build a HUF 6bn conference and concert centre - one of the main projects in the city's preparations to take the European Capital of Culture title in 2010... [read complete entry]
January 07, 2009, 10:24 CET
Luxury hotel to be restored in Salgótarján
A downtown Salgótarján hotel abandoned for a decade will be turned into a 150-capacity four-star wellness and conference hotel in a project worth nearly Ft 2 billion (roughly €7.5 million), Styl Képítő Kft has announced.... [read complete entry]
December 12, 2008, 08:17 CET
Environmental impact study could delay €700 million "Eurovegas" project
The deadline for the start of operation of a EUR 700m casino complex to be built near Hungary's border with Austria could be overstepped if Austria demands an environmental impact study for the project, business daily Vilaggazdasag reported on Thursday.... [read complete entry]
December 04, 2008, 07:34 CET
Debrecen to spend €5 million expanding technology park
The city of Debrecen (E Hungary) will expand the Debrecen Technology Park by 16.5 hectares and make EUR 5m in public utility and infrastructural developments at the park, city Mayor Lajos Kosa said on Wednesday.... [read complete entry]
December 03, 2008, 08:36 CET
Arab investors plan luxury spa hotel in Northwest Hungary
A group of Arab investors plan to spend billions of forints to build a 300-room luxury hotel and water park in Veszprem (NW Hungary), the city's mayor Janos Debreczenyi announced on Tuesday.... [read complete entry]
December 01, 2008, 10:52 CET
French developer to spend €140 million plus on mall expansions in Hungary
Ségécé Hungary Kft, owned by the French firm Klépierre, is planning construction of a new shopping mall and expansion of three current ones in Hungary, reports vg.hu (subscriber only).... [read complete entry]
October 22, 2008, 10:02 CET
OTP reverses policy on countryside mortgages, plunges to new low
OTP has revised its mortgage policy and announced that it accepts all properties throughout Hungary as collateral. OTP was recently criticised for allegedly closing out 300 villages from any mortgage applications by not accepting real estates as collateral in the... [read complete entry]
October 21, 2008, 11:33 CET
Austrian permits to be required for "EuroVegas" complex
A permit from Austrian authorites is likely to be needed before construction of the long-running "Eurovegas" project can go ahead, it has recently been revealed. According to Napi.hu, Austria wishes to participate in the impact assessment procedure related to the... [read complete entry]
October 14, 2008, 03:24 CET
Residents launch late protest against BudaWest airport
Residents of the resort town of Balatonalmádi have started collecting signatures to protest against a planned new airport on the north shore of Lake Balaton to be opened in 2010, reports Népszabadság. The plot was donated to the two towns... [read complete entry]
October 13, 2008, 12:20 CET
Property discounts largest in Transdanubia region
The Transdanubia region seems to be hardest hit by falling house prices, with real estate agents observing the largest differential between asking and actual sale prices in the country, reports Napi Gazdaság.... [read complete entry]
October 02, 2008, 11:30 CET
Rumors swirl around Austrian hotel chain's possible exit from Hungary
Austrian hotel chain Rogner Hotels & Resorts GmbH appears to have lost their interest in Hungary, napi.hu reports. The company recently withdrew its name from the Spirit Hotel & Thermal Spa in Sárvár in western Hungary either because of a... [read complete entry]
October 01, 2008, 11:29 CET
Swiss developer to add €400 million expo center to sprawling Tópark project
Switzerland-based Walker & Williams Investment Group will build a €400 million exposition complex as part of the Tópark project currently being developed at the western edge of Budapest where highways M1, M0 and M7 meet, writes Napi Gazdaság (subscriber only).... [read complete entry]
October 01, 2008, 10:18 CET
Work to begin on €2 million boating/hospitality complex near Győr
Mosoni-Duna Csónakház Kft plans to build an extensive maritime and hospitality complex on the site of the former Richards boathouse on the Danube in Győr. Plans for the Ft 500 million (over €2 million) investment have been completed, and the... [read complete entry]
September 30, 2008, 04:14 CET
Tenders for military-owned properties fail to ignite bidding wars
Sometime tomorrow, the Hungarian government will officially launch a tender for the Taszar airbase, which, before it was closed in 2001, had the distinction of being the first U.S. air base in the former Soviet Bloc. From various news sources... [read complete entry]
September 25, 2008, 10:25 CET
Hungary to request extension on farmland ban for foreigners
Hungary will ask the European Commission to allow the country to extend a seven-year ban on foreigners buying farmland in Hungary, business daily Napi Gazdasag reported on Thursday.... [read complete entry]
September 12, 2008, 11:10 CET
Franz Joseph's stables to become major Sopron sports and cultural center
The former riding stables of Franz Joseph in Sopron are to be renovated and converted into a multi-functional hall hosting a variety of cultural and sporting events, reports Napi Gazdaság. József Sinkovits, chief clerk of the Austrian-owned Zuma Kft. undertaking... [read complete entry]
September 01, 2008, 12:36 CET
Town of Siklós begins work on Ft 2.4 billion water park
The city of Siklos (SW Hungary) laid the cornerstone of a HUF 2.4bn thermal bath and water park on Sunday.... [read complete entry]
August 27, 2008, 09:15 CET
Hungarian state splashes out billions for new spa projects
The government has awarded more than HUF 6.5bn for development projects at baths in four Hungarian cities, government spokeswoman Bernadett Budai said on Monday.... [read complete entry]
August 25, 2008, 03:48 CET
Gov't to help fund four spa projects in Hungary
Hungary's government has pledged to provide 6.5 billion forints, EUR 27.75 m), to four spa developments in the country, government spokeswoman Bernadett Budai said on Monday. New spas and aqua centres will be built in Hajduszoboszlo (E) -- already a... [read complete entry]
August 22, 2008, 11:06 CET
Austria's CMI opens 13th shopping center in Hungary
Austria's Center Management Invest (CMI) opened a HUF 2bn (EUR 8.53m) PARKcenter shopping centre in Kazincbarcika (NE Hungary), CMI Managing Director Leopold Stork said at the opening ceremony on Thursday.... [read complete entry]
August 07, 2008, 11:30 CET
Analysts disagree on gravity of housing slump
The market for new apartments has slowed nearly everywhere in Hungary, with Budapest taking the heaviest hit, writes Napi.hu, based on data provided by the Central Statistics Office (KSH). However, analysts have diverse opinions about the gravity of the situation.... [read complete entry]
July 30, 2008, 02:43 CET
Key Hungarian property market index stagnates in second quarter
Economic think-tank Ecostat's Real Estate Barometer, a measure of sentiment on Hungary's property market, inched up four-tenths of a percentage to 46.0pc in Q2 from the previous quarter, Ecostat director Pal Belyo said at a press conference on Wednesday. Mr... [read complete entry]
July 24, 2008, 09:06 CET
Government gives Daimler investment VIP treatment
Construction of Daimler-Benz’s Hungarian plant in Kecskemét for €800 million was classified as a priority investment, enabling fast-track licensing and permission procedures, the government announced Wednesday. A preliminary agreement between the carmaker, the city of Kecskemét and the government was... [read complete entry]
July 23, 2008, 12:48 CET
Big investment in golfing and yachting at Lake Balaton
A several billion forint investment by the company behind the Royal Balaton Golf and Yacht Club will see a massive expansion of facilities on Hungary's largest lake for those interested in golfing and sailing. According to napi.hu, among the projects... [read complete entry]
July 21, 2008, 12:49 CET
Hungarian company to reopen and operate previously closed cinemas
Two previously closed cinemas will be reopened by a Hungarian-owned company, which believes they could continue operating once undergoing a few changes, reports Napi.hu (subscriber only). Nagykanizsa's cinema located at the Kanizsa Plaza mall was closed in March 2007 and... [read complete entry]
July 17, 2008, 01:46 CET
Hungary's first "green" conference center opens in Szentendre
The conference center can even send out the excess power it produces. [read complete entry]
July 16, 2008, 01:18 CET
Retail space grows as shops continue exodus from Hungarian villages
The number of small Hungarian settlements without any retail stores doubled in the four years prior to 2008, while the number of retail outlets dropped in every region of the country, writes Napi.hu, based on data provided by the Central... [read complete entry]
July 15, 2008, 01:10 CET
Planned Mercedes factory in Kecskemét drives up real estate prices
Announcement of Mercedes factory drives up real estate prices, interest in technical education. [read complete entry]
July 07, 2008, 11:05 CET
Budapest to offer properties, including provincial castles, for sale
The city is preparing for another round of selling properties this July. [read complete entry]
June 06, 2008, 11:10 CET
Balaton property market showing signs of recovery at last
Property prices at Lake Balaton are on their way up for the first time in years, signaling a revival of Hungary's major domestic tourist destination, writes privatbankar.hu. The lake has recently been the subject of a slew of investment in... [read complete entry]
June 03, 2008, 10:31 CET
Little Hungarian lake becoming bigger property deal
While Velence-tó ("Venice Lake") is only Hungary's third-largest body of water, the 26 km² lake is becoming a major hotspot in the domestic property market, according to a survey last week in business daily Napi Gazdaság. The paper reports that... [read complete entry]