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Hungarian government puts historic Finance Ministry palace in central Budapest up for auction
The Hungarian state has put the historic former Finance Ministry building in central Budapest up for auction, with a starting price of more than HUF 35 billion (around EUR 90 million).
According to the Hungarian National Asset Management company, bidding for the property at József nádor Square will begin at 8:00 AM on 17 March and run until 9:00 PM on 19 March via the state’s electronic auction platform.
The building, located at 2–4 József nádor Square, is one of the most prominent historic palaces in downtown Budapest and has long served as an important centre of Hungarian economic administration.
Price reduced after previous auction attempt failed
The property had already been offered for sale once before. Last autumn, the government attempted to auction it with a starting price of HUF 37.6 billion, but no buyer emerged.
This time, the starting price has been reduced to approximately HUF 35.2 billion.
The future buyer will also have to sign an agreement allowing the ministry currently occupying the building — the Ministry for National Economy led by Márton Nagy — to continue using the property free of charge until 1 September 2026.
A landmark building with more than a century of history
The palace was originally built in the early 20th century for the Hungarian General Credit Bank and was designed by renowned Hungarian architect Ignác Alpár. Since its completion in 1909, the building has played a central role in Hungary’s financial and economic administration.
The property has a floor area of more than 27,000 square metres and is protected as a historic monument. It also forms part of the UNESCO-listed panorama of the Danube and central Budapest.
The square in front of the building, József nádor Square, was renovated in recent years, including the construction of a 525-space underground car park.
Not the first ministry building sold
The Finance Ministry building is not the first government property to be sold in recent years.
Last September, the Interior Ministry’s building complex on Széchenyi Square was purchased by an unknown buyer for HUF 50.7 billion after the ministry moved to the Buda Castle district.
Critics question timing ahead of elections
The sale has drawn criticism from some opposition figures and public figures, who question both the timing and the short bidding period.
Transport expert and former state secretary Dávid Vitézy criticised the two-day auction period, calling it unusual for a building of such importance. In a social media post, he argued that across Europe, historic state buildings of this scale are typically sold only with a clearly defined plan for their future use and preservation.
Previously, Tisza Party leader Péter Magyar also alleged that highly valuable state properties could end up in the hands of government-linked business circles, including those associated with businessman István Tiborcz. The government has not commented on these claims.
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The Fidesz kleptocrats are grabbing everything they can before they lose power. The corruption is incredibly deep.
You bes’ get yourself some good bourbon, Dear Larry, because on April 13 you are going to wake up to the fact that Tisza did not win the election.
At the least, Fidesz will edge out Tisza, and Mi Hazánk will, albeit reluctantly, form a conservative governing coalition with it.
What such a result will actually mean for the average Hungarian is unclear to me – other than the fact that, under such a coalition, Hungary will not be playing an active part in invading Russia, importing the Darkies, or trying to convince adolescents to be homosexual.
Wow – just back in time of the DISASTEROUS “period in time” as the Minister of Finance that of Mihaly Varga, his legacy, that has been a major contribution to the state of the Hungarian economic and financial “sickly” position.
If only those walls, in the former Finance Ministry Offices could talk – what lies being again confirmed to the people of Hungary they could tell.
Time rapidly approaching, to “throw out” the destructors of Hungary, through the Leadership, under the Prime Ministership of Victor Mihaly. Orban his Fidesz Government to enable a “flickering of light” to return, for a FUTURE of Hungary.